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NRB Commercial Bank restructures board amid irregularities

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NRB Commercial Bank restructures board amid irregularities

NRB Commercial Bank Ltd. restructured its board Dec. 10 in line with the central bank's recommendation amid gross irregularities in the lender's conduct, The Daily Star reported Dec. 11.

The new board, headed by Tamal SM Parvez, appointed Kazi Md Talha as temporary managing director in place of Managing Director Dewan Mujibur Rahman, who was sent on a three-month leave period. Talha was Rahman's deputy.

Parvez replaced Farasath Ali, while Mohammad Shahid Islam replaced Toufique Rahman Chowdhury as vice chairman.

Ali stepped down after "he felt ... partially responsible for the bank's image crisis," said Parvez.

Bangladesh Bank removed Rahman as NRB Commercial Bank's managing director over irregularities such as forgery of signatures and facilitating outside interference in the bank's board.