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MD Bari resigns on personal grounds: NBL

Media reports baseless, unfortunate


Published : 28 Nov 2021 10:23 PM | Updated : 29 Nov 2021 03:19 PM

National Bank Ltd (NBL) has described the baseless news items run by different media outlets over the resignation of its managing director Shah Syed Abdul Bari as unfortunate.

In a press release issued on Sunday, the bank said Shah Syed Abdul Bari has quit his job of his own accord showing completely personal grounds. 

“Let alone pressurizing him for resignation, the (NBL) Board of Directors had even requested Bangladesh Bank to approve Mr Bari’s appointment as the MD relaxing the central bank conditions.”

As per Bangladesh Bank rules, any person having a third division in any academic examination is disqualified for being the managing director of any bank.

“Under that rules, Mr Bari is not qualified for being the MD. But as National Bank requires appointing an MD promptly after the expiry of the former MD’s tenure, the 445th meeting of the National Bank Board of Directors appointed Mr Bari and subsequently the central bank approved his appointment proposal.”

The release said Bangladesh Bank had been pressing for improvement in ADR ratio and bringing dynamism in the bank management since Mr Bari’s takeover as the MD, but he could not take the pressure and verbally urged the authorities on several occasions to appoint an efficient MD and several other senior officials.

“The Honourable Chairman, Mrs Monowara Sikder, urged him to keep patience until the next AGM.” 

 The release said Shah Syed Abdul Bari resigned on completely personal grounds, but several dailies and online newspapers, including Prothom Alo, Bonik Barta and Samakal ran baseless news items on the matter.

 It said National Bank is a first-generation bank, which has earned the trust of hundreds of thousands of depositors across the country. The bank secured the status of the largest taxpayer last fiscal year.

 In the release, National Bank expressed the hope that no one will harm the institution, which is making a great contribution to the economy, by publishing baseless news reports.

 Mentioning that National Bank has employed several thousand people in its over 200 branches at home and abroad, it has urged all concerned to refrain from running any news item that might put the livelihood of its employees and investment of the depositors at risk.

 The bank said it is always committed to helping the media in publishing true news.

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