Muhiuddin resigns as Farmers Bank chairman

Ruling Bangladesh Awami League (AL) MP Muhiuddin Khan Alamgir has resigned as the chairman of The Farmers Bank Limited. 

The bank's audit committee chairman and bank’s director Mahabubul Huq Chishti has also left his position.

The bank made the decisions at a special meeting on Monday. The meeting also appointed a new chairman besides forming new executive committee, audit committee and risk management committee.

On Sunday night, the Bangladesh Bank had asked the bank to show reasons why its managing director AKM Shamim will not be removed from his post.

Bangladesh Bank executive director and spokesperson Shuvankar Saha has confirmed the changes.

In a statement sent to the media around 9:30pm, the BB said the Farmers Bank had been facing severe liquidity crisis while its index in the stock market had been going down. As a result, the BB had to take a number of steps and the bank has obliged. The new committees of the bank will act to ensure a turnaround, the BB had been promised.

The BB requested everyone concerned to continue their support towards the Farmers Bank.