The central bank has dissolved the boards of three private commercial banks (PCBs) mainly due to their ineffectiveness, a spokesperson for the Bangladesh Bank (BB) said on Thursday.
"Actually, the boards were ineffective as they were unable to make timely decisions because the chairmen were mostly staying abroad," Mohammad Shahriar Siddiqui, an assistant spokesperson of the central bank told the Financial Express (FE) while replying to a query.
Additionally, some of the chairmen faced travel bans and cases filed by the Anti-Corruption Commission (ACC), he added.
Regarding financial health of the reconstituted Meghna Bank, NRB Commercial Bank and NRB Bank, Mr. Siddiqui said the banks are good as "there is no problem with their financial soundness indicators (FSIs)".
BB Governor Dr. Ahsan H. Mansur is expected to meet the reconstituted boards separately to know about their future business plans and other relevant issues, according to the spokesperson.
He said each bank will have a chairman from their newly-appointed seven-member board of directors.
The newly formed NRBC Bank board is chaired by independent director Md Ali Hossain Pradhania, a Supernumerary Professor at Bangladesh Institute of Bank Management (BIBM) and former managing director of Bangladesh Krishi Bank.
An introductory meeting between the newly formed board members and top management of NRBC Bank will be held at its headquarters in Dhaka on Sunday next.
The chairman of Meghna Bank is expected to be elected on Sunday next at a board meeting of the fourth generation PCB, a senior official of the bank said.
Talking to the FE, a senior official at NRB Bank said the chairman of their bank would be elected next week.
Since the interim government took office in August 2024, and Dr. Mansur was appointed as the governor of the central bank, the BB has so far reconstituted the boards of 14 banks.
Boards of 11 banks earlier reconstituted are: Islami Bank Bangladesh, Social Islami Bank, Global Islami Bank, Union Bank, National Bank, First Security Islami Bank, Bangladesh Commerce Bank, Al Arafah Islami Bank, United Commercial Bank, Exim Bank and IFIC Bank.
siddique.islam@gmail.com
© 2025 - All Rights with The Financial Express
