BB turns down NCC Bank proposal to reappoint its MD

Staff Correspondent | Published: 23:46, Jul 30,2020


The Bangladesh Bank has turned down an NCC Bank proposal to reappoint its (NCC Bank) current managing director Mosleh Uddin Ahmed for another term.

After the BB’s rejection, the board of directors of NCC Bank again has sought approval from the central bank for reappointing Mosleh Uddin, BB spokesperson and executive director Md Serajul Islam told New Age on Thursday.

The fresh proposal has been submitted before Mosleh Uddin’s tenure expires next week.

Serajul said that the investigation carried out by the Bangladesh Financial Intelligence Unit (BFIU) was  the reason for the BB’s denial over the reappointment of the current managing director.

The NCC Bank board in its fresh proposal to appoint Mosleh Uddin mentioned that Mosleh Uddin did not do the bank’s customers any harm.

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

About the NCC Bank fresh proposal, Serajul said that the assessment of the proposal was underway.

A BB official told New Age that the central bank’s department concerned asked the BFIU to provide update information about Mosleh Uddin.

The department concerned would take its decision based on the BFIU report, he said.

As per the BFIU findings in 2019, Mosleh Uddin and his wife Luna Rashid had Tk 35 crore in deposits with five banks, two financial institutions and four brokerage houses.

The deposits included Tk 6 crore and Tk 3.5 crore in two accounts with Jamuna Bank.

Mosleh Uddin then denied the BFIU findings, stating that the figures mentioned were not current balance in the accounts rather the amounts showed the transactions with different banks since the opening of those accounts.

After the BFIU findings surfaced, the NCC Bank board had asked its MD to explain the allegations and later the board accepted his explanations.

More about:

Want stories like this in your inbox?

Sign up to exclusive daily email