FID top officials express hope about BASIC Bank

The 36th Annual General Meeting (AGM) of state-owned BASIC Bank Limited was held on Sunday, September 22, 2025, at the Corporate Office of the bank. Helal Ahmed Chowdhury, Chairman of the bank presided over the meeting. Nazma Mobarak, Secretary, Financial Institutions Division (FID), Ministry of Finance, attended the meeting as a representative of the bank's sole shareholder, the Bangladesh government, according to a press release received on Monday.

Md. Quamruzzaman Khan, Managing Director & CEO of the Bank, welcomed the guests and answered various questions at the meeting. The financial statements for the year 2024 of the Bank were adopted in the meeting. Munshi Abdul Ahad, Additional Secretary of Finance Division, Ministry of Finance, Sheikh Farid, Joint Secretary of FID, Ministry of Finance, Md. Matiur Rahman, FCA, FCMA, Md. Abdul Ahad, Additional Secretary (Retd), Dr. Abu Saleh Mostafa Kamal, former Government Official (Grade-1), all Directors of BASIC Bank, and Md. Sirajul Islam, Executive Director of Bangladesh Bank and Observer of BASIC Bank's Board, GM, and Company Secretary Md. Hasan Imam, GM and CFO, Md. Saidur Rahman Sohel and a representative of the Audit firm, Kazi Zahir Khan & Co., were present at the meeting.

FID Secretary Nazma Mobarak said in her speech, "We see great potentialities in BASIC Bank and a ray of light is seen." Nazma Mobarak expressed hope about Basic bank's gradual turnaround and assured all possible support from the government. Reflecting on the bank's past history, Nazma Mobarak commented that it was a good bank and its past glory needs to be restored.

Nazma Mobarak urged everyone of the bank to work hard diligently. Chairman of BASIC Bank, Helal Ahmed Chowdhury, emphasized the importance of formulating strategic plans and ensuring their effective implementation to secure sustainable growth. He also stressed the need to intensify loan recovery efforts and accelerate legal procedures. At the same time, he underlined the importance of strict compliance with regulatory directives and maintaining good governance across all operational areas.

Helal Ahmed Chowdhury extended thanks and gratitude to the Ministry of Finance, Bangladesh Bank and other regulators. Bangladesh Bank's Executive Director Md. Sirajul Islam placed importance on income growth and loan recovery, while assuring necessary support from the central bank. In the question-answer session, Abu Md. Mofazzal and Subhash Chandra Das, Deputy Managing Directors, along with Md. Ismail, Md. Momenul Hoque, Md. Nashir Uddin, Sumit Ranjan Nath, Dulon Kanti Chakrabarty, Md. Ghulam Syeed Khan, all General Managers, Nurur Rahman Chowdhury (GM-CC) were also present at the AGM.