State-owned BASIC Bank’s Managing Director Muhammad Awal Khan has tendered his resignation citing personal reasons.
Khan, who joined as the bank in November 2017, sent his resignation letter to the bank’s Chairman Alauddin A Majid on Aug 14.
“Khan’s resignation letter will be placed before the board during its next meeting,” Majid told Bangla Tribune.
“The board will decide the matter as well as the government will look into it,” he added.
Asked whether Khan has followed the proper procedures to tender his resignation, Majid said, “An MD is required to provide a three-month notice for resignation and Khan did so.”
“The board will now decide whether Awal will serve for the next three months or else he might have to leave any day now,” Majid said before adding, “The matter requires government’s attention.”
On Nov 1, 2017, the government appointed Khan with a tenure of three years, set to be ended on Nov 1, 2019.
Prior to joining BASIC Bank, Khan served as the managing directors for state-owned Bangladesh Krishi Bank and the Rajshahi Krishi Unnayan Bank.
He also served as a general manager at Sonali Bank and as a deputy managing director at Agrani Bank.
Scandal and loss have hit hard the specialised bank over the couples of years.
Data from Bangladesh Bank shows, the bank incurred a loss of 26.54 billion over the past four year. At present, its loan default stands at Tk 85.94 billion.
A loan scandal involving Tk 45 billion took place in the bank between 2009 and 2013.