BASIC Bank MD’s resignation kept pending

Staff Correspondent | Published: 00:32, Sep 04,2018 | Updated: 00:33, Sep 04,2018

 
 

The resignation tendered by Awal Khan from the managing director post of the scam-hit BASIC Bank was yet to be accepted by the bank’s board of directors.
BASIC bank chairman Alauddin A Majid on Monday said they decided to keep the acceptance of resignation by Awal Khan pending until the appointment of a new MD.
The board of directors at a meeting on August 30 made the decision, he said.
This was the first board meeting of the trouble-torn state-owned bank after Awal Kkan tendered his resignation on August 14.
Appointed on October 24, 2017, Awal Khan quit more than two years before the end of his three-year contract that according to the bank insiders happened because of challenges faced by him in reviving the bank experiencing risks of bankruptcy due to scams perpetuated by previous board of directors mainly by Abdul Hye Bacchu through sanction of shady loans worth over Tk 6,000 crore from 2009 to 2014.
Alauddin A Majid said they had already taken steps to appoint a new MD.
Once the new MD appointed the resignation of Awal would automatically be accepted, he added.
While talking to New Age on the same day, Awal Khan said the board of directors did not convey anything to him about their decision.
He said he had served a three-month notice to quite the crucial post of the bank that started to incur loss soon from a profit making entity after the detection of scams in 2013-14.
Finance minister AMA Muhith on Tuesday said resignation of Muhammad Awal Khan would not create any crisis for the bank.
Answering whether the allegation of conflict between the MD and the chairman was the reason for early departure of Awal Khan, Muhith said he did not know anything about such dispute. 

Want stories like this in your inbox?

Sign up to exclusive daily email

Advertisement

images

 

Advertisement

images