FCA Jamaluddin ousted from Janata Bank board amid pressure

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FCA Jamaluddin ousted from Janata Bank board amid pressure

Reputed Chartered Account Jamaluddin Ahmed was ousted from Janata Bank as Chairman of its Board of Directors at the middle of his regime amid pressure from an influential business group.

The Financial Institutions Division under the finance ministry announced the changes through a circular issued this evening.

The government on Tuesday removed Janata Bank Chairman Dr Jamal Uddin Ahmed and replaced him with Dr SM Mahfuzur Rahman.

The circular, signed by Jahid Hossain, Deputy Secretary of the Division, said Mahfuzur Rahman would carry out his responsibilities as chairman of Janata Bank for three years from the date of his joining.

Jamal Uddin, general secretary of the Bangladesh Economics Association, joined Janata Bank as chairman on August 26, 2019. He was appointed for three years.

Dr SM Mahfuzur Rahman is former chairman of the Department of Banking at the University of Dhaka. He has also served as chairman of the Investment Corporation of Bangladesh.

Banking sources said removal of a bank chairman in the middle of his tenure is against the norms. Mr. Jamal had been opposing allocation of a huge amount of fund as he smells rat behind the loan approval.

Former professor of Dhaka university International Business Dr. SM Mahfuzur Rahman has been appointed as chairman of Januta bank . He is now Vice Chancellor of the University of Fashion and Technology BGMEA .

Bmirrorhttps://bmirror.net/
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