Published: 08:41 AM, 01 February 2024
Padma Bank Chairman steps down
In a recent development, Chowdhury Nafeez Sharafat, Chairman of Padma Bank PLC, has submitted his resignation, citing health reasons. He assumed the role of chairman in January 2018 when the bank was known as Farmers Bank.
His appointment followed the resignation of Muhiuddin Khan Alamgir, the former chairman, who stepped down amidst allegations of involvement in financial scams. The change in leadership aimed to restore confidence and stability to the financial institution.
The resignation has been officially accepted by the Bangladesh Bank, as confirmed by Mesbaul Haque, its spokesperson and Executive Director.
In the interim, Md Afzal Karim, the Managing Director of Sonali Bank, will take on the role of acting chairman at Padma Bank until a new appointment is made. The BB spokesperson emphasized that this temporary arrangement is designed to ensure the continued smooth functioning of the bank's operations.
In the interim, Md Afzal Karim, the Managing Director of Sonali Bank, will take on the role of acting chairman at Padma Bank until a new appointment is made. The BB spokesperson emphasized that this temporary arrangement is designed to ensure the continued smooth functioning of the bank's operations.
On January 29, 2019, the Bangladesh Bank issued an order renaming The Farmers Bank Limited to Padma Bank Limited. This decision came in the wake of the bank's struggles to meet its liabilities, attributed to a significant number of bad loans and embezzlements.
