Rumee Ali steps down from AB Bank chairman post

Muhammad A (Rumee) Ali has stepped down from the chairman post of Arab Bangladesh (AB) Bank, citing personal reasons.

He came up with the announcement of his resignation at the annual general meeting (AGM) at Sonargaon Hotel in the capital on Wednesday.

AB bank sources said he resigned from the post due to the deterioration of his relationship with the bank owners. Rumee Ali was appointed as the chairman of AB Bank three years ago in a bid to improve the bank’s financial health.

Former foreign minister of BNP government M Morshed Khan holds a large share of the ownership of the bank.

“Our board of directors started running the bank three years ago. Along with the new board of directors, the management team was also reorganised. It was not easy for us to overcome in the last three years as the bank’s position (financial health) was very shaky. I have worked tirelessly to regain the lost glory of the bank.”

“I think good governance is the key to the development of a bank. And the principle of good governance is accountability or liability. If it is not established, good governance will not be ensured. I have tendered my resignation from the board of directors of AB Bank for personal reasons. So this is my last board meeting and AGM as the chairman of your bank.”

When asked Rumee said “Capital afresh will have to be invested to run the bank in the right direction. Then the loan can be disbursed. During my three years in office, I did not compromise with any party. Legal action has been taken against all those who are not paying their loans.”