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Bangladesh Bank (BB) has once again dissolved the board of National Bank PLC, a first-generation commercial bank, citing the board's failure to safeguard depositors' funds through compromising good governance in banking operations.
The decision was communicated to the bank's managing director via a letter signed by BB Governor Dr Ahsan H Mansur, effective immediately.
In addition to dissolving the board, the central bank has reconstituted it with a new set of members. The new board members include shareholder Abdul Awal Mintoo, entrepreneur holder Moazzem Hossain, and shareholder Zakaria Taher.
Independent directors appointed to the new board are former Bangladesh Bank executive director Md Zulkar Nain, former Managing Director of Shimanto Bank PLC Mukhlesur Rahman, Professor Dr Melita Mehjabeen from the Institute of Business Administration (IBA) at the University of Dhaka, and Chartered Accountant Md Abdus Sattar Sarker.