Badal removed from IFIC Bank’s board of directors

Bangladesh Bank (BB), the country’s central bank, has removed Mohammad Lutfar Rahman, who is known as Badal, from IFIC Bank’s board of directors.

Banking Regulations and Policy Department of the BB issued a letter in this regard today.

Badal has failed to attend a single meeting out of the bank’s 18 board meetings held between December last year and September this year, which the BB found detrimental to the interest of the banks’ depositors and board as well.

The central bank also held Badal responsible for creating anarchy in and around Joydevpur in Gazipur district. A case is pending against Badal in Joydevpur Police Station, it said.

Badal was also chairman of the IFIC Bank’s Executive Committee and Risk Management Committee.