Meghna Bank MD resigns

Mohammed Nurul Amin, managing director of Meghna Bank, one of the nine new banks, has stepped down recently citing personal reasons.

The development comes at a time when the new banks were hitting the headlines due to poor performance and a lack of good governance in their boards.

Amin resigned on November 2 and the board accepted the resignation on November 19, officials said.

HN Ashequr Rahman, chairman of the bank, confirmed the resignation, which will be effective from November 30.

Amin has been with the bank since 2014 and was due to serve for another year. “I have resigned for personal reasons,” he said.

Banking sources, however, said the seasoned banker resigned over a Tk 45 crore loan provided to one Rupali Corporation.

As the client defaulted on the loan, the bank called an auction to sell off the borrower's mortgaged property.

Some directors were of the view that the loan was granted unlawfully and put the blame on the management, said a senior official asking not to be named.