Bangladesh Bank Dissolves National Bank Board Again Amidst Governance Concerns

Metropolis Report-

Bangladesh Bank has once again dissolved the board of the National Bank. 

The National Bank’s managing director was notified by writing today by the central bank that the bank’s current board of directors has been dissolved.

According to the BB letter, the banking regulator appointed Khalilur Rahman, the bank’s sponsor director, as the new chairman and established a new board of directors. 

The National Bank’s board of directors was dissolved and a new board was established by an order issued by the central bank on December 21, 2023.

Subsequently, the banking regulator appointed Syed Ferhat Anwar, a former Dhaka University professor at the Institute of Business Administration, as the bank’s new chairman. 

Following a letter by Parveen Haque Sikder, a director of the commercial bank, to the Bangladesh Securities and Exchange Commission, the central bank acted because of her concern that the previous board would rig the bank’s next board of directors’ election. 

This time, Syed Ferhat Anwar and Parveen Haque Sikder were among the majority of the former directors whom the banking watchdog dismissed.