trending Market Intelligence /marketintelligence/en/news-insights/trending/k6ZgpUMnqjJ-jIOjU5qZxg2 content esgSubNav
In This List

AB Bank chairman resigns; replacement named

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


AB Bank chairman resigns; replacement named

AB Bank Ltd. appointed M.A. Awal as chairman to replace M. Wahidul Haque who resigned, bdnews24.com reported Dec. 21.

The move came after the Bangladesh central bank reportedly recommended removal of Haque for his alleged involvement in of money laundering. In addition, Salim Ahmed and Faheemul Huq resigned as vice chairman and director, The Daily Star reported.

Meanwhile, the bank appointed Mostaque Ahmad Chowdhury, Sajir Ahmed and Shirin Sheikh Moinuddin as directors.

The board restructuring came after an investigation by the central bank found that AB Bank allegedly laundered around 1.65 billion Bangladeshi taka to the United Arab Emirates through two questionable organizations.

As of Dec. 21, US$1 was equivalent to 82.71 Bangladeshi taka.