Administrators withdrawn from Union and Global Islami banks
Graphics: Agamir Somoy
Bangladesh Bank no longer has administrators at any of the five banks being merged. Most recently, the administrators of Union Bank PLC, Mohammad Abul Hashem, and Global Islami Bank, Md. Mokhsuduzzaman, were also withdrawn on Thursday. Bangladesh Bank spokesperson Arif Hossain Khan confirmed the information on the day.
Bangladesh Bank officials said that keeping administrator teams at the same banks after appointing new managing directors, chairmen and independent boards of directors was creating a situation of dual governance. For this reason, the administrators were withdrawn in phases. The banks will now operate under the leadership of their new managing directors and boards of directors.
Bangladesh Bank spokesperson Arif Hossain Khan said, “Initially, an administrator team led by an administrator was appointed at each bank to advance the merger process of the five banks. In the meantime, new managing directors have been appointed and boards of directors have been formed through coordination between Bangladesh Bank and the government. The chairmen of the boards have also been elected. Therefore, there is no longer any need to retain the administrator teams.”
He said that in the first phase, the administrator team was withdrawn from EXIM Bank. Administrators were then withdrawn from First Security Islami Bank and Social Islami Bank (SIBL). Finally, administrators and their assisting officials were also withdrawn from Union Bank and Global Islami Bank.
The other officials withdrawn from Union Bank are Additional Director (ICT) Md. Al Mehedi Hasan, Additional Director Kazi Abdul Mannan, Additional Director Md. Tarikul Islam and Joint Director Sagar Hossain.
The officials withdrawn from Global Islami Bank PLC are Additional Director Mohammad Shahjahan, Additional Director (ICT) Md. Shariful Islam, Additional Director Muhammad Abdullah Al Mamun and Joint Director Md. Kawsar Pathan.
