BB sacks NRBC Bank MD

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Bangladesh Bank (BB) on Wednesday sacked Managing Director (MD) of NRB Commercial Bank Limited (NRBC Bank) Dewan Mujibur Rahman over gross irregularities in the bank including corruption charges.

BB Spokesperson and Executive Director Suvangkar Saha confirmed the MD’s removal to reporters in the afternoon.

The central bank previously served show-cause notice against him on 10 counts of irregularities, including signature forgery, interference of outsiders in the board and corruption.

The irregularities including corruption were inter-linked and took place with the involvement of the board and the management.

MD Dewan never reported of the irregularities to the BB authorities, said the show-cause notice.

The central bank added that Dewan had provided false information in order to mislead the authorities.

On July 17 last, the Banking Regulation and Policy Department of the central bank submitted a review report to a standing committee of the bank formed to look into the NRBC Bank case.

The report suggested dissolution of the board and removal of the top executive as per the banking laws.