BB asked the bank not to allow Bulbul to get involved in regular banking activities if he had not been reappointed
The Bangladesh Bank (BB) has instructed ASM Bulbul, the acting managing director of National Bank, to refrain from all kinds of activities of the bank as his tenure has expired.
BB asked the bank not to allow Bulbul to get involved in regular banking activities if he had not been reappointed, said a senior central bank official.
On Tuesday, the Financial Integrity and Customs Services Department of the central bank sent a letter to the chairman of the Board of Directors of National Bank in this regard.
It said that the bank has appointed ASM Bulbul as the managing director (current charge) of the National Bank, which is contradictory to the directive of the BB’s Banking Regulation and Policy Department.
Before the move, the central bank on April 5 asked the lender not to disburse any loans without BB’s prior approval.
The regulatory body received allegations that the bank had disbursed a good amount of funds without approval from its board.
The Dhaka Tribune tried to reach Bulbul over the phone for a comment on the matter, but he did not receive the call.