Bangladesh Bank has removed AKM Shamim, Managing Director (MD) of The Fermers Bank, for neglecting the charge and failing to manage the bank. Bangladesh Bank gives letter to the removal of MDC under Article 46 of the Bank Company Act.
The bank authorities took the letter today morning. This removal has been effective since today. The MD's employment expires on December 28.
Executive Director and spokesman of Bangladesh Bank, Shubhankar Saha said in the first light, the letter has been sent to remove the MD and they have accepted it. This morning they received the letter.
Earlier on Thursday (December 13th), the standing committee of the Bangladesh Bank ended the hearing of AKM Shamim. He went to the Bangladesh Bank and responded to the allegations raised against him. Central Bank sources said, Firms' MD could not give a clear answer on the complaint.
On November 26, the Bangladesh Bank issued notice to remove KM Shamim . Two reasons for this are mentioned; Firstly, MD failed to manage liquidity in the bank. For this reason, the bank failed to deposit cash or CRR and statutory deposits or SLR money. Secondly, the bank has disbursed the loan without following the instructions of the central bank. Bangladesh Bank has tied seven days to know why AKM Shamim will not be removed. The letter was sent to the Standing Committee for final hearing on the reply as the reply was not satisfactory. The committee was hearing on December 13.
Mohiuddin Khan Alamgir left the post of Ferman's Bank on November 27 . Besides, the chairman and director of the bank's audit committee, Mahbubul Haq Chisti, had to leave the post. These decisions are made at the special board meeting of the bank. The meeting was reconstituted with the new chairman, vice-chairman and executive committee, audit committee and risk management committee.
According to the sources, the customers are not getting the money back from the readying bank. As a result, customers are getting crowded in different branches of the bank every day.