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Bangladesh Bank dissolved the Board of Directors of National Bank. On Thursday (December 21), Bangladesh Bank has issued an order to dissolve the current board of the bank and form a new board.
It is known that a new board of seven members has been formed where Ron and Rick Haque Shikder are left out. This decision has been taken to protect the interests of the depositors and public interest.
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Executive Director and Spokesperson of Bangladesh Bank Mezbaul Haque sai, Syed Farad Anwar will serve as the Chairman of the newly formed Board of Directors who is currently serving as Independent Director of Meghna Bank. Apart from that, Bangladesh Bank’s former executive director Sirajul Islam, Southeast Bank’s former managing director Md. Kamal Hossain, Khalilur Rahman, Parveen Haque Sikder, Shafiqur Rahman and Moazzem Hossain are the directors. Three directors of the previous board of directors have been appointed to the new board of directors. The rest of the directors were declared ineligible. He also said that the total number of directors in the previous board was eight. Three of them got a place in the new board.
According to Bangladesh Bank data, the combined capital shortfall of banks in the third quarter ended September 30 was Tk 37,506 crore. This figure for September was the highest deficit. Earlier, the highest deficit recorded in the last quarter of 2021 was Tk 33 thousand 744 crore.
As per international regulatory framework Basel III, the minimum capital adequacy ratio (CAR) for banks is 10.5 percent. In addition to this, an additional two and a half percent has to be kept as security. 14 banks failed to maintain minimum CAR. The banking sector’s CAR was 11.08 percent in September.
According to the Central Bank’s Financial Stability Report 2022, banks in the country continue to have the lowest CARs in South Asia. The capital deficit of most of these 14 banks increased from last July to September.
