2 bank chairmen issued show-cause notices
Wednesday, 26 March 2008
FE Report
The Bangladesh Bank (BB) issued show-cause notices on chairmen of two private commercial banks (PCBs) Tuesday asking them to explain within the next seven days why their posts should not be declared as vacant following their convictions by courts.
"We have issued show-cause notices to the Chairman of Premier Bank Limited HBM Iqbal and its director Nawrin Iqbal and Chairman of the City Bank Limited Aziz-Al Kaiser in line with the existing bank company act," a BB senior official told the FE.
He also said that the central bank felt that any convicted person should not hold any high-level posts of any commercial bank.
On March 11 last, a special court sentenced HBM Iqbal to a 10-year rigorous and three years of simple imprisonment in a graft cause and other offences, including amassing large amount of wealth by illegal means.
Nawrin Iqbal, daughter of HBM Iqbal, was also jailed for three years as she was found guilty of abetting her father.
City Bank Chairman Aziz-Al Kaiser was convicted by a court in Gazipur in February last. He appealed to the higher court and now on bill, banking sector sources said.
The Bangladesh Bank (BB) issued show-cause notices on chairmen of two private commercial banks (PCBs) Tuesday asking them to explain within the next seven days why their posts should not be declared as vacant following their convictions by courts.
"We have issued show-cause notices to the Chairman of Premier Bank Limited HBM Iqbal and its director Nawrin Iqbal and Chairman of the City Bank Limited Aziz-Al Kaiser in line with the existing bank company act," a BB senior official told the FE.
He also said that the central bank felt that any convicted person should not hold any high-level posts of any commercial bank.
On March 11 last, a special court sentenced HBM Iqbal to a 10-year rigorous and three years of simple imprisonment in a graft cause and other offences, including amassing large amount of wealth by illegal means.
Nawrin Iqbal, daughter of HBM Iqbal, was also jailed for three years as she was found guilty of abetting her father.
City Bank Chairman Aziz-Al Kaiser was convicted by a court in Gazipur in February last. He appealed to the higher court and now on bill, banking sector sources said.