Helal Chy new chairman of BASIC Bank

The government has appointed Helal Ahmed Chowdhury as the chairman of the state-owned BASIC Bank Limited for a three-year tenure.

This decision was announced in a notification, signed by deputy secretary Afsana Bilquis of the Financial Institutions Division of the Ministry of Finance, on October 31.

According to the notification, Mr Chowdhury is required to take necessary steps, including obtaining approval from the Bangladesh Bank, in compliance with the provisions of the Bank Companies Act 1991.

This approval is crucial for his appointment as director and chairman to the board of BASIC Bank. It takes effect from the date of his joining the bank.

The appointment comes with a condition: if Mr Chowdhury currently holds directorship in any financial or insurance entity, he must resign from that role.

Earlier on October 09, the Financial Institutions Division issued a notification removing Prof Dr Abul Hashem from his chairmanship at BASIC Bank.

When contacted, Mr Chowdhury confirmed receiving the appointment letter.

The new chairman said he would assume the role following the central bank's approval, which he expects to take a few more days.

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