Quasem elected as chairman of BA Exchange Company (UK)

Md Abul Quasem, an independent director of Bank Asia Limited, was recently elected chairman of BA Exchange Company (UK) Limited, a fully owned subsidiary of the bank.

Quasem started his banking career with Bangladesh Bank as an assistant director in 1976 and concluded his tenure as deputy governor in 2016, said a press release.

During his tenure with Bangladesh Bank, he had responsibilities in many departments, including currency management, payment system, accounts and budgeting, human resources, SME and special programs, agricultural credit, communications & printing, expenditure management, research, statistics, central bank strengthening project (CBSP) and Bangladesh Financial Intelligence Unit.

He signed the first memorandum of understanding with Bank Negara Malaysia on behalf of the Anti-Money Laundering Department (AMLD), which is now known as the Bangladesh Financial Intelligence Unit (BFIU) and conducted money laundering investigations in the United Kingdom with Scotland Yard.

He was instrumental in the roadshow organised by Bangladesh Bank with other commercial banks across Bangladesh to popularise SME lending and raise awareness of the benefits of sending remittances through banking channels and the negative sides of money laundering.

He also encouraged commercial banks and Bangladesh Bank officials to meet the Bangladeshi diaspora in the USA, UK, some European countries and the Middle East to send remittance through the formal banking channels.

He held many important administrative positions like observer in the board of City Bank Ltd and Pubali Bank Ltd, chairman of the executive committee of the Bangladesh Institute of Bank Management and as director of Dhaka Stock Exchange Ltd, SME Foundation and Security Printing Corporation (BD) Ltd.

Quasem obtained his honour's and master's degrees in economics from the University of Dhaka.