Due to poor governance and declining financial stability, the Bangladesh Bank dissolved the National Bank`s board of directors.
According to central bank sources,the private commercial bank`s managing director, Md. Mehmood Husain, received a letter from the banking regulator today on this matter.
The board of the NRB bank consists of four members from the Sikder family.
The chamber judge of the Supreme Court`s Appellate Division on 19 December imposed a status quo on the holding of the annual general meeting (AGM) of the National Bank until 21 January 2024.
According to representatives of the private sector lender, the AGM for 2022 which was supposed to take place on December 21 via a digital platform will not take place on time because of the current situation.
On request of a bank director, the High Court had already postponed the AGM.
Previously in may, National Bank had decided to hold the AGM on 17 August, but in July, it postponed the AGM. Later, in October, the bank set the new schedule to hold the AGM on 21 December.
