BB bars Ron Haque from National Bank’s board meetings
The Bangladesh Bank has restricted National Bank Director Ron Haque Sikder from participating in any of the bank's meetings, including board meetings, due to his violation of central bank regulations.
On 26 July, the central bank issued an instruction in this regard in a letter to the managing director of the National Bank.
Earlier, on 25 August 2022, Ron Haque Sikder was re-elected as a director of the bank at its 39th Annual General Meeting. Currently, he is a member of the bank's Board of Directors, Executive Committee and Risk Management Committee.
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According to the central bank letter, the approval of the Bangladesh Bank should be taken for the appointment of Ron Haque Sikder, who was re-elected as a director of the National Bank. He will not be able to participate in the meetings of the bank's Board of Directors, Executive Committee and Risk Management Committee until this approval is given.
Mehmud Hossain, managing director of National Bank, was contacted regarding this matter. However, he did not answer the call and also did not respond to the WhatsApp message that was sent.
Previously, on 24 August 2022, Moazzem Hossain, Mabrur Hossain, and Ron Haque Sikder resigned as directors during the board of directors meeting that took place prior to the 39th Annual General Meeting of the bank, in accordance with the established rules.
Moazzem Hossain served as a director of the bank since its establishment in 1983, and he was later joined by his son, Mabrur Hossain.
On the following day, both Moazzem Hossain and Mabrur Hossain were excluded during the Annual General Meeting (AGM). Meanwhile, Ron Haque Sikder secured his position through the shareholders' vote.
According to the law, the final approval of the central bank has to be taken after the approval in the AGM. The central bank has not yet approved it.
The central bank letter also said that the approval of the Bangladesh Bank should be taken in the appointment of elected and re-elected directors in the AGM. For this, the Bangladesh Bank has asked National Bank authorities to submit all kinds of documents quickly.
