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New NRBC chair: Central bank's faulty policy behind problems

  • Published at 06:56 pm December 11th, 2017
  • Last updated at 10:50 pm December 11th, 2017
New NRBC chair: Central bank's faulty policy behind problems
The newly-appointed chairman of the NRB Commercial (NRBC) Bank has blamed the problems he has inherited at the lender on “faulty guidelines” for non-residential Bangladeshi (NRB) banks prepared by Bangladesh Bank. Tamal SM Parvez on Monday said flaws in the central bank’s policy for formulation of NRB banks has led to the issues that have been raised against NRBC. Bangladesh Bank’s investigation last year revealed gross irregularities involving Tk701 crores of loans at the NRBC bank. After that, the central bank appointed an observer.
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“We will now try to sort out the answers to all these issues,” he said. Tamal made the comment to reporters after a courtesy meeting with three deputy governors of central bank at the BB headquarters in Motijheel on Monday. “Despite being board members, we were not made aware that the central bank had communicated to the bank raising so many issues. We will now try to learn about these issues and solve them,” he added. Engr Farasath Ali stepped down from his position as the chairman on Sunday. The bank’s board made Tamal the chair at the same meeting.
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Changes were also made in some other posts of the bank’s board, sources told the Dhaka Tribune. Mohammad Shahid Islam was made the bank’s new vice-chairman as Dr Toufique Rahman Chowdhury resigned from his post at the meeting. Executive Committee Chairman Mohammed Manzurul Islam was replaced by Abu Bakr Chowdhury, while Rafikul Islam Mia Arzoo and Adnan Imam were made the bank’s new Audit Committee and Risk Management Committee chairs, replacing Nuran Nabi and Syed Munsif Ali, respectively. On December 5, Bangladesh Bank in an order removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman for misconduct and violation of rules. The order has been stayed by the High Court in response to a writ petition filed by Dewan Mujibur challenging the central bank’s order. On Sunday, the bank’s board sent him on leave for three months and made Deputy MD Qazi Md Talha the acting MD.