The Bangladesh Bank (BB) Tuesday once again dissolved the National Bank board.
In an order issued by BB governor Ahsan H Mansur, the banking regulator said it has dissolved the bank's board for the sake of the depositors' money and public interest.
The BB said the financial condition of the bank deteriorated due to the board's failure in taking policy decisions.
The board was also engaged in activities against the interest of the depositors, according to the BB.
The banking watchdog dissolved and restructured the board of directors of National Bank for the first time in December last year, but dissolved that board again in May this year for the second time.
Banking sector sources said several previous directors of the National Bank were representatives of various sisters concerns, including anonymous, of Chattogram-based S Alam Group. As a result, some people are considering this as a step to free the bank from the grip of S Alam Group, which has six banks under its control.
After reconstruction, the bank’s entrepreneur and former chairman Abdul Awal Mintoo, former director Zakaria Taher and Moazzem Hossain have been appointed as directors of the bank.
Apart from this, the central bank has appointed four independent directors of National Bank. The new chairman will be appointed from the seven directors.