Govt to restructure BASIC Bank board

Following a central bank recommendation to abolish the board of directors of BASIC Bank, the finance minister has said the government will restructure the board. The central bank on Wednesday recommended the dissolution of the board of the state-owned bank, based on allegations of loan fraud, corruption and irregularities. Asked how the finance ministry was planning to act on this, AMA Muhith told  bdnews24.com, "I haven't seen the letter, but I spoke to the governor in the morning and I am aware of all the issues." "If we dissolve the board, who will look after the bank? So we're going to restructure the bank," he said. He said the restructuring would be done soon.