Ban on trading of 2 directors' shares
Star Business Report
Bangladesh Bank has put a bar on transfer of shares of Jamuna Bank and Uttara Bank held by the banks' two sponsor directors and their relatives, who hold over 10 percent shares in the banks in violation of rules.According to the Bank Company Act, any individual, company or members of a family cannot hold over 10 percent shares of a bank. The central bank in an investigation found that Tasmin Mahmud, one of the sponsors of Jamuna Bank, and her husband Shaheen Mahmud and her sister Nasrin Akter Chowdhury still hold 12.92 shares of Jamuna Bank. Another investigation by the BB found that Suraiya Begum, a sponsor director of Uttara Bank, and her relatives hold 11 percent shares of Uttara Bank. The central bank imposed the ban so that it can take legal action against the illegal holdings of shares or confiscate the shares.
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