Bangladesh Bank Appoints Three Independent Directors to Premier Bank Board

Bangladesh Bank has appointed three independent directors to the board of Premier Bank. The appointments were made under the powers given by sections 45 and 47(3) of the Bank Company Act, 1991.

The three newly appointed independent directors are Brigadier General Md Jahedur Rahman (retd), Mohammad Mosharraf Hossain and Md Masudur Rahman Shah.

Among those appointed, Mohammad Mosharraf Hossain is currently serving as an independent director on the board of United Commercial Bank.

Under section 23(1)(ka) of the Bank Company Act, 1991, a person cannot serve on the boards of two banks at the same time. Mohammad Mosharraf Hossain will therefore have to resign from the board of United Commercial Bank PLC before joining the Premier Bank board.

Premier Bank has been instructed to take the necessary steps, confirm the resignation and inform Bangladesh Bank of it.