11 SBAC Bank officials suspended 

Eleven officials, including two deputy managing directors (DMDs) of South Bangla Agriculture & Commerce (SBAC) Bank were suspended on Wednesday on allegations of irregularities in distributing loans. 

The DMDs are - Md kamal Uddin and Shafiuddin Ahmed. 

The suspension orders came in just nine days after industrialist Abdul Kadir Molla was elected as chairman of the bank on 27 September. 

The other suspended officials are - Head Office Executive Vice President and Head of Banking Operation SM Iqbal Mehadi, Executive Vice President and Head of Credit Administration Division Salauddin Ahmed, Vice President and Head of International Division ANM Moyeej Ahmed,  FAV & Khulna Branch Head NM Abul Kalam Siddique, Additional Vice President and Chuknagar Branch Head Mohd Monjurul Alam, SEO and Bagerhat Kharabat Baintola Branch Head SM Rabiul Alam, Bagerhat Faltita SEO and Head of Branch Md Nazrul Islam, Khulna Branch Foreign Exchange Division In-charge SK Abul Farah and Bagerhat Katakhali Branch Executive Officer and Operation Manager Arup Kumar Shah.

Abdul Kadir Molla said, "I have learned about the dismissal of 11 officials including two DMDs. However, I do not know the reasons for their removal." 

Speaking over the allegation of irregularities, several officials of the bank, seeking anonymity, said that some of the loans had been adjusted already or the amount of the loans was that big.

Earlier on 21 September, the bank's chairman SM Amjad Hossain stepped down citing physical illness.