BASIC Bank yesterday appointed a new managing director after the central bank removed Kazi Faqurul Islam from the troubled state bank as MD on Sunday.
BASIC Bank's most senior deputy managing director Fazlus Sobhan has been reassigned as the MD, the bank said in a statement.
A board meeting chaired by Shubhashish Bose, a director of BASIC Bank and vice chairman of the Export Promotion Bureau, took the decision, Ruhul Alam, a deputy managing director of the bank, said.
Bose chaired the meeting in the absence of Chairman Sheikh Abdul Hye Bacchu, who is abroad now.
Meanwhile, some people who identified themselves as BASIC Bank employees posted posters on roadside walls blaming Bacchu and two deputy managing directors for “damaging” the bank, which was considered as one of the best state-owned banks until 2009.After the government appointed little-known Bacchu as its chairman in September 2009, the bank's performance started eroding, a poster reads.
In a statement, BASIC Bank dismissed the allegations in the posters as unfounded. The bank filed a general diary with the Motijheel police.