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BB dissolves board of directors of National Bank

BB dissolves board of directors of National Bank
Business National

CT News Online

Bangladesh Bank on Thursday dissolved the Board of Directors of the National Bank for its failure to ensure good governance and widespread irregularities and corruption.

The regulatory authority has also formed a new board to ensure the smooth functioning of the National Bank, Bangladesh Bank spokesperson Md Mezbaul Haque, confirmed the Daily Sun, this noon.

The existing board of the bank faced challenges in managing its responsibilities effectively, leading to various complaints against its performance, said Mezbaul Haque, also executive director of the BB.

To protect the interests of depositors and shareholders, the central bank has taken the decision based on the recommendation of the Bangladesh Securities and Exchange Commission (BSEC), added the BB official.