The board of Salman's bank IFIC was dissolved

The central bank has dissolved the board of directors of IFIC Bank, which was held by former Prime Minister Sheikh Hasina's private industry and investment advisor Salman F Rahman. At the same time, a new board of directors has been formed by appointing 6 directors including four independents.

On Wednesday (September 4), the board was abolished by an order of Bangladesh Bank and new independent directors were appointed by the same order.

According to the order sent to the Managing Director of IFIC, the board of directors of the bank has been dissolved and a new board has been formed to protect the interests of the depositors and the bank and to ensure good governance.

The former managing director of National Bank has been appointed as an independent director in the new board. Mehmud Hossain, former executive director of Bangladesh Bank Ebtadul Islam, BRAC Bank professor Sajjad Zahir, chartered accountant Kazi Md. Mahbub Kashem and Bangladesh Government owns 32.75 percent shares; Therefore, additional secretary of the finance department has become the representative director of the government. Golam Mostafa and Joint Secretary Manjurul Haque.    

Sheikh Hasina left the country after resigning from the post of Prime Minister on August 5 in the face of the unforgettable coup of the students. Through this, 16 consecutive years of Awami League's unprecedented misrule and arbitrariness came to an end. Salman F Rahman was one of the main figures in the looting and anarchy of the banking sector during the previous government. After Sheikh Hasina's escape, Salman F Rahman was arrested while fleeing through the river.

Meanwhile, Salman F Rahman's son Ahmed Sayan Fazlur Rahman has already lost the post of director of IFIC Bank. Bangladesh Bank rejected his application for reappointment as a director as he was a defaulter. As a result, he has been removed from the directorship of the bank.

Earlier, soon after the fall of the government, the sacked officers and employees of the bank protested demanding the resignation of the chairman of the private IFIC Bank, Salman F Rahman and his son, along with all the directors of Beximco. At the same time, during the tenure of former managing director MD Shah A Sarwar, those who were unfairly dismissed from their jobs were demanded to be reinstated.

The protesters said that the current chairman Salman F Rahman has looted thousands of crores of rupees. Its associate was former MD Shah A Sarwar (now advisor to the bank). Shah A Sarwar is forcing many officers and employees to resign from their jobs due to mental stress.