Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, August 6, 2020 06:35:00 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

BB bans former NRBC Bank chairman Farasath for 2yrs

photo by

By
06th-Jul-2020       
Share
  • Twitter
  • Google+
  • Save
  • E-mail
  • Print
Comments
Share your thought
Post a comment »
Read all () »

Economic Reporter :
Bangladesh Bank (BB) banned former NRBC Bank chairman Farasath Ali for two years for his involvement in irregularities during 2013-2016 and for providing fabricated information to the central bank.
After three-years of investigation, BB issued a directive in this regard to Farasath Ali, the founding chairman of the NRBC bank. When asked, BB spokesperson and executive director Md Serajul Islam confirmed the news on Sunday saying that the central bank came up with the directive as Farasath failed to prove his innocence regarding the allegation of irregularities. With the decision, Farasath has now become ineligible to hold any directorship post in any bank.
He was ousted from the board on December 10, 2017 as several central bank investigations found him forging signatures of the bank's four directors.
The forgery took place within three years of the government's approval to the bank. According to the central bank's investigation reports submitted on December 15, 2016, the four directors - Kamrun Nahar Sakhi, ABM Abdul Mannan, Firoz Haider Khan and Md Amir Hossain - were shown present in the board meetings by 'forging signatures'.
The signatures of the directors did not match with their signatures in the other bank documents, said the reports.
The BB investigations found that there was no document like photocopies of passports that supported that Sakhi, Firoz, Mannan and Amir came to Bangladesh to attend the meetings in the period.
After the removal of Farasath from the chairmanship, he was also removed from the board in August, 2018 as the central bank turned down his reappointment proposal.
In 2018, Farasath sold 65 lakh shares of the bank out of his holding of two crore and 100 shares of the bank.
In December 2017, the central bank also removed Dewan Mujibur Rahman, the then managing director of NRBC Bank, for not informing the central bank about the irregularities that were done by the board and collaborating with them.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Set strategy to recoup education after pandemic


UN Secretary-General Antonio Guterres said that the world set to face a generational catastrophe because of school closures amid the coronavirus pandemic. The states must take appropriate action to return students to the classroom. As of mid-July schools were closed in some 160 countries, affecting more than 1 billion students, ...

International »

Trump says he will `probably` give Republican nomination speech from White House


Reuters :US President Donald Trump said on Wednesday he will probably give his Republican presidential nomination speech live from the White House, although the plans have not been confirmed yet."We're thinking about it. We're thinking about doing it from the White House," he said in an interview with Fox News. ...

Health »

Kids under 5 are more prone to SARS-CoV-2


Dr. Muhammad Torequl Islam :For a long time it has been considered that children and young people are fairly safe from the risk of incidence of the novel coronavirus (SARS-CoV-2) infection than the others. Besides, many facts, the big reasons behind this are that since children spend most of their ...

City »

`Bangladesh Chhatra Adhikar Parishad` forms a human chain in front of the National Museum in the city on Wednesday demanding trial of former army official Major Sinha Mohammad Rashed Khan killing.


.

Sports »

Kirsten shares his experience in virtual meeting with Tigers


BSS, Dhaka :World Cup winning Coach Gary Kirsten shared his experience and gave some tips to the Bangladesh cricketers through a virtual meeting on Wednesday."He has worked with some big players of the cricket and he himself has vast experience on cricket. We had some questions and he answered that ...

City »

President Abdul Hamid offers Munajat after saying Eid-ul-Azha prayers at Bangabhaban Darbar Hall on Saturday.


International »

Thai protesters openly criticize monarchy


Reuters, Bangkok :Speakers at a Thai anti-government protest demanded reforms to the monarchy of King Maha Vajiralongkorn on Monday, calling for its powers to be curbed in unusually frank public comments.Defaming the monarchy is punishable by up to 15 years in prison under Thailand's 'lese majeste' laws. Police did not ...

International »

Spain puzzles over ex-King Juan Carlos's whereabouts


There is intense speculation in the Spanish media about the whereabouts of embattled ex-King Juan Carlos, after his shock announcement on Monday that he was leaving the country.The 82-year-old, who is targeted by a corruption probe, announced the move in a letter posted on the royal website.It gave no details ...

Sports »

Donna Vekic wins as WTA Tour resumes in Italy


Donna Vekic won the first main-draw match following the resumption of the WTA Tour as she beat Arantxa Rus in the first round of the Palermo Open.The Croatian beat her Dutch opponent 6-1 6-2 at the clay-court event on the Italian island of Sicily.The tournament marks the return of professional ...

Cricket »

Sheikh Kamal's 71st Birth anniversary today


Abahani Limited have chalked out various day-long programmes to observe the 71st Birth anniversary of Shaheed Sheikh Kamal, the eldest son of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, today.The directors and officials of Abahani Club will pay tribute to Sheikh Kamal by placing wreaths on his portrait on ...

Business & Economy »

Mamoon Mahmood Shah, Managing Director & CEO (Current Charge) of NRB Bank Limited, cutting cake to celebrate the bank's 7th Anniversary with the slogan 'Marching Towards Success & Sustainability' at its Corporate Head Office in the capital on Tuesday. Md Khurshed Alam, Deputy Managing Director, was also present.


Editorial »

Ominous signals for leather industry


THE rawhide market for sacrificial animal this year during the Eid-ul-Azha has almost collapsed like last year's literally wiping out seasonal traders and madrasha volunteers who have so far collected rawhide from door to door. Previously they would deposit the sale proceeds as charitable contribution to madrashas and such other ...

Editorial »

Time is hard and heartbreaking yet we wish all Eid Mubarak!


EID ul Azha or 'Feast of the Sacrifice', is the second of two such holidays celebrated worldwide each year by Muslims. It honors the willingness of the Prophet Ibrahim to sacrifice his son Ismail as an act of obedience to the command of Allah. In commemoration of this intervention, an ...

City »

Sparse presence of buyers at the makeshift shop of spices ahead of Eid-ul-Azha. The snap was taken from the city's Baitul Mokarram area on Thursday.


.

Entertainment »

Madonnas Instagram account flagged for spreading misinformation about Covid-19 vaccine


Instagram has flagged a video by Madonna which claimed that Covid-19 had already been found, but the vaccine is being hidden to ‘let the rich get richer.’ Instagram blurred out the video with a caption saying: “False Information,” reported by BBC. It also directed users to a page debunking the ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news