BASIC Bank holds 36th AGM

The 36th Annual General Meeting (AGM) of state-owned BASIC Bank Limited was held on Monday at the bank's head office. Helal Ahmed Chowdhury, chairman of the bank, presided over the meeting.

Nazma Mobarek, secretary of the Financial Institutions Division (FID), Ministry of Finance, attended the AGM as the representative of the bank's sole shareholder, the Government of Bangladesh. Md. Quamruzzaman Khan, managing director and CEO of BASIC Bank, welcomed guests and responded to questions during the session. The financial statements for the year 2024 were adopted.

Among others present were Munshi Abdul Ahad, additional secretary of the Finance Division; Sheikh Farid, joint secretary of FID; Md. Matiur Rahman, FCA, FCMA; Md. Abdul Ahad, additional secretary (Rtd.); and Dr. Abu Saleh Mostafa Kamal, former government official (Grade-1). Directors of BASIC Bank, Md. Sirajul Islam, executive director of Bangladesh Bank and board observer, GM and company secretary Md. Hasan Imam, GM and CFO Md. Saidur Rahman Shohel, and a representative of audit firm Kazi Zahir Khan & Co. also attended.

In her speech, FID secretary Nazma Mobarek said, "We see great potential in BASIC Bank and a ray of light is seen." She expressed optimism for the bank's gradual turnaround and assured government support, adding that BASIC Bank's past glory needed to be restored through diligence.

Chairman Helal Ahmed Chowdhury underscored the need for strategic planning, effective loan recovery, strict compliance with regulations, and good governance. He expressed gratitude to the Ministry of Finance, Bangladesh Bank, and other regulators.

Bangladesh Bank's executive director Md. Sirajul Islam stressed the importance of income growth and loan recovery, assuring the central bank's support.

During the question-answer session, deputy managing directors Abu Md. Mofazzal and Subhash Chandra Das, along with general managers Md. Ismail, Md. Momenul Hoque, Md. Nashir Uddin, Sumit Ranjan Nath, Dulon Kanti Chakrabarty, Md. Ghulam Syeed Khan, and Nurur Rahman Chowdhury (GM-CC), were present.