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Managing Director (MD) and Chief Executive Officer (CEO) of BRAC Bank PLC Selim R F Hussain has submitted his resignation to the board of directors, effective from Tuesday.
The board has accepted Mr Hussain's resignation and has sought Bangladesh Bank's approval in this regard, according to a press statement issued by the private commercial bank.
In the meantime, the board has appointed Tareq Refat Ullah Khan, additional managing director and head of corporate and institutional banking, as the MD and CEO (Current Charge), it added.
Talking to The Financial Express, Mr. Hussain said he has resigned on personal grounds, eight months ahead of his scheduled retirement.
In an email sent to his colleagues at the bank, he informed them that he had tendered his resignation to the chairman and board of directors.
"All good things must come to an end, and such is the case for my time at BRAC Bank PLC," he said in the email seen by this correspondent.
"It has been a great privilege for me to work with you for close to ten years now as we, together, built an outstanding institution and a role model in the banking industry," he noted.
Mr. Hussain joined BRAC Bank as MD and CEO on November 08, 2015, according to the bank's website. He previously served as MD and CEO of IDLC Finance Ltd, where he was credited with driving significant growth for more than six years.
Before joining IDLC, he held senior leadership roles at multinational banks, including ANZ Grindlays Bank and Standard Chartered Bank, serving for 24 years in Bangladesh, India, and Australia. Mr. Hussain was the head of finance and strategy for Standard Chartered's consumer banking division in Mumbai and its CFO in Bangladesh from 2002 to 2007.
He was also a director at the Credit Rating Agency of Bangladesh (CRAB) and Vice-Chairman of the Bangladesh Leasing & Finance Companies Association (BLFCA) since 2012. Currently, Mr. Hussain is serving as chairman of the Association of Bankers, Bangladesh (ABB), a platform comprising chief executives of the country's banks.
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