SBAC Bank’s managing director steps down

South Bangla Agriculture and Commerce (SBAC) Bank's Managing Director (MD)  Tariqul Islam Chowdhury has stepped down from his position before completing his three-year tenure.

Chowdhury was appointed as MD at SBAC on July 1 last year, but he resigned from the top executive post on April 1, citing his health related complications deriving from the coronavirus.

"I was affected by Covid-19 and, later on, hospitalised due to deteriorating health conditions. I recovered within couple of weeks and was released from the hospital also tested Covid-19 negative," said Chowdhury in his resignation letter.

"Later on, I joined the office, but since then I have been suffering from various post Covid-19 complications," he said.

"…. In this scenario, I am submitting my resignation with one month's notice as per the central bank circular," Chowdhury said.

Chowdhury served the bank as additional managing director before he was promoted to managing director.

He did not respond to The Daily Star's request for comment on the issue.

Contacted, SM Amzad Hossain, chairman of SBAC Bank, said Chowdhury was unable to do office due to his health related complications.

But sources in the bank said Chowdhury was forced to resign from the positon of MD amid conflict among directors in the bank's board.

Md Golam Faruque, previous MD of the bank, also stepped down unexpectedly in March last year, six months before his term expires.

Faruque joined SBAC in August 2017 as the MD and his tenure was scheduled to end in August this year. He also tendered his resignation on health grounds.

The SBAC Bank yesterday issued a press release saying that Mosleh Uddin Ahmed had been appointed as MD of the bank.

Ahmed has previously served NCC Bank as managing director.