The High Court on Thursday stayed a Bangladesh Bank order that removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman from his post for misconduct and violation of rules.
The bench of Justice Syed Muhammad Dastagir Husain and Justice Md Ataur Rahman Khan passed the order in response to a writ petition filed by Dewan Mujibur Rahman challenging the central bank's order.
The court also issued a rule asking the authorities concerned to explain as to why the removal order should not be declared illegal.
All concerned, including the central bank governor were asked to reply to the rule within four weeks.
On December 5, Bangladesh Bank in an order removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman for misconduct and violating the rules.
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The central bank's decision was conveyed to him on Wednesday through a letter.
As per the decision, Dewan Mujibur will not be able to serve any bank in the next two years.
The Bangladesh Bank served the letter after it found evidence of irregularities and violation of the banking law against Mujibur.
Also Read- NRBC Bank MD removed on 10 charges
Earlier, the central bank served a show-cause notice to him over 10 irregularities and violations of the banking law in issuing loans of Tk701 crore which the central bank believes went against the interests of the bank's depositors.
Challenging the notice, the NRBCB managing director went to the court, but he failed to obtain any order in his favour at first.