HC stays BB order

M Moneruzzaman | Updated at 01:51am on December 08, 2017

The High Court Division on Thursday stayed for three months removal of loan scam tainted NRB Commercial Bank’s managing director Dewan Mujibur Rahman by Bangladesh Bank.
BB officials said that the banker was removed after finding ‘proof’ of his in volvement with multiple loan scams.
In a rule, the court asked the central bank to explain why removal of NRBC’s managing director by a general manager of Bangladesh Bank would not be declared illegal.
Respondents, BB governor, finance ministry secretary, BB general manager and four others, were asked to reply to the rule.
A bench of Justice Syed Muhammad Dastagir Husain and Justice Md Ataur Rahman Khan issued the rule and stayed the banker’s removal after hearing his writ petition.
Senior lawyer Rokanuddin Mahmud with NRBC lawyer Hamida Chowdhury appeared for the banker while deputy attorney general Amit Talukder for the state.
Hamida told New Age that Section 46 of the
Bank Company Act required the central bank governor and not a general manager to issue the order of removal.