• Monday, Aug 10, 2020
  • Last Update : 06:04 pm

Bangladesh Bank decline reappointment of NCC Bank MD

  • Published at 09:44 pm July 30th, 2020
Mosleh Uddin NCC Bank
Mosleh Uddin Collected

The bank placed the proposal just before Mosleh Uddin's tenure was about to expire in the first week of August

Bangladesh Bank on Thursday turned down a proposal from the NCC Bank Limited to reappoint their current managing director Mosleh Uddin Ahmed for another term.

The bank placed the proposal just before Mosleh Uddin's tenure was about to expire in the first week of August.

The NCC Bank's board of directors, after receiving news of the refusal, reapplied to the central bank to reconsider its decision, BB spokesperson and executive director Md Serajul Islam told Dhaka Tribune.

Asked for the reason behind the denial to accord approval, Serajul said that the investigation findings by the Bangladesh Financial Intelligence Unit (BFIU) was the reason for denying reappointment of the current managing director.

In the new proposal, NCC Bank said Mosleh Uddin did not compromise the bank's operations and was not a threat to its customers.

The NCC Bank proposal also mentioned that the implementation of the stimulus package would be difficult for the bank without the appointment of Mosleh Uddin as the managing director.

Speaking about the fresh proposal of NCC Bank, Serajul mentioned that the proposal was still in its assessment stage.

The BB’s concerned department asked the BFIU to provide updated information on Mosleh Uddin, said a high official of the central bank.

As per the BFIU findings, in 2019 Mosleh Uddin and his wife Luna Rashid had Tk35 crore in deposits with five banks, two financial institutions, and four brokerage houses.

The deposits include Tk6 crore and Tk3.5 crore in two accounts in Jamuna Bank.

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