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The chairman of Bangladesh Commerce Bank Limited, Md Ataur Rahman, and the bank’s executive committee chairman, Md Mohsin Mia, have resigned following allegations of irregularities.
Bangladesh Bank has accepted their resignation letters, according to information released by the central bank on Tuesday (November 3).
Following their resignations, the central bank appointed Dr Md Rafiqul Islam and SM Abdul Hamid as independent directors of Bangladesh Commerce Bank.
The appointments were made under Sections 45 and 47(3) of the Bank Company Act, 1991.
In September 2024, Bangladesh Bank reconstituted the bank’s five-member board, appointing Ataur Rahman, a former executive director of the central bank, as chairman and Mohsin Mia, a former deputy managing director of Social Islami Bank, as executive committee chairman.
A Bangladesh Bank inspection last year reportedly found their involvement in various irregularities, including interest waivers, prompting recommendations for their removal.
A subsequent inspection also found evidence of irregularities.
After a lengthy process, the central bank recently asked the two officials to step down.
The development comes as Bangladesh Bank continues to take regulatory measures concerning the governance of troubled banks.