Managing Director (MD) and CEO of Bangladesh Commerce Bank resigned. Tajul Islam He submitted his resignation citing ‘personal health reasons’. It is known that he has withdrawn all the money from his bank account.
He submitted his resignation in the bank’s board meeting on Monday. The relevant source of the bank confirmed this information.
Tajul Islam was a former official of Central Bank. He joined Commerce Bank as MD in March 2022. Before this, he was working as the Managing Director of State-owned Employment Bank, Deputy Managing Director of Janata Bank Limited and Additional Managing Director of Social Islami Bank Limited. It is known that the S Alam group has a loan of about 11 thousand crore rupees in Janata Bank. S Alam Group’s relationship with Tajul Islam was formed on that basis. After retiring from Janata Bank, he was appointed as MD of Commerce Bank.
Meanwhile, despite the resignation of the MD, most of the top officers and department heads appointed through S Alam Group are still in place. As a result, the bank is unable to come out of the crisis.
Bangladesh Commerce Bank was owned by S Alam Group. After the fall of the Awami League government, the central bank deregulated the bank on September 3. Dissolve the board and reconstitute the new board. Former Executive Director of Bangladesh Bank as an independent director in the new board. Ataul Rahman, former Additional Managing Director of Meghna Bank. Mohsin Mia, Chartered Accountant Sheikh Ashwafuzzaman. Besides, two directors have been appointed. They are – Ministry of Finance Financial Institutions Department Joint Secretary Kamrul Haque Maruf; who is currently the representative director of the government and deputy managing director of Janata Bank Mo Golam Mortuza; Who is the representative of Janata Bank.
Government banks and institutions share 51 percent of Commerce Bank. Since 2016, the entire control of the bank has been in the hands of the controversial conglomerate S Alam Group. This group also appointed the chairman and managing director in the bank showing its power. 1 thousand 300 crores of the bank is stuck with the banks and financial institutions owned by them. Meanwhile, S Alam Group did not stop with taking money from Commerce Bank to other banks. They have also employed around 600 manpower in the bank. Most of them belong to group chairman Saiful Alam’s Patia area of Chittagong. Overall, the activities of this semi-government bank have stopped.
