Formation of new board of IFIC Bank

The central bank has dissolved the board of directors of IFIC Bank. At the same time, a new board has been formed by appointing 6 directors including four independent ones. In an order of Bangladesh Bank on Wednesday (September 4), the board was dissolved and new independent directors were appointed.

The order sent to the managing director of IFIC said that the board of directors of the bank has been dissolved and a new board has been formed to protect the interests of the depositors and the bank and to ensure good governance.

Those who have been appointed as independent directors in the new board are – former managing director of National Bank. Mehmud Hossain, former executive director of Bangladesh Bank Ebtadul Islam, BRAC Bank professor Sajjad Zahir, chartered accountant Kazi Md. Mahbub Kashem, Additional Secretary of Finance Department. Golam Mostafa and Joint Secretary Manjurul Haque. The last two directors are representatives of the government, as the Bangladesh government owns 32.75 percent of the bank's shares.

Sheikh Hasina left the country after resigning from the post of Prime Minister on August 5 in the face of the unforgettable coup of the students. Through this, Awami League's unprecedented 16 years of misrule and arbitrariness ended. During the previous government, Salman F Rahman was one of the main figures of looting and anarchy in the banking sector. After Sheikh Hasina escaped, he was arrested while fleeing to the river.

Meanwhile, Salman F Rahman's son Ahmed Sayan Fazlur Rahman has already lost the post of director of IFIC Bank. Bangladesh Bank rejected his application for reappointment as a director as he was a defaulter. As a result, he has been removed from the directorship of the bank.

Bangladesh /RH