SC upholds central bank order removing NRB Commercial Bank MD

The Appellate Division of the Supreme Court on Thursday upheld a Bangladesh Bank (BB) order that removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman from his post for misconduct and violating the rules, reports UNB. A five-member Appellate Division bench, led by Acting Chief Justice Abdul Wahhab Miah, passed the order in the morning.

The apex court also asked the authorities concerned to dispose of the rule that was issued by the High Court seeking explanation as to why the removal order should not be declared illegal.

Attorney General Mahbubey Alam stood for the Bangladesh Bank while former Justice Nazrul Islam Chowdhury represented Dewan Mujibur Rahman.

Earlier on January 7, Chamber Judge of the Appellate Division upheld BB order that removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman and sent the petition to full Appellate Division bench for hearing on January 11.

On December 7, the High Court stayed a Bangladesh Bank (BB) order that removed Mujibur Rahman from his post for misconduct and violating the rules.

A two-member HC bench comprising Justice Syed Muhammad Dastagir Husain and Justice Md Ataur Rahman Khan passed the order in response to a writ petition filed by Dewan Mujibur Rahman challenging the central bank's order.

The court also issued a rule asking the authorities concerned to explain as to why the removal order should not be declared illegal.

All concerned, including the BB governor, were asked to reply to the rule within four weeks.

On December 5, BB in an order removed NRB Commercial Bank MD Dewan Mujibur Rahman for misconduct and violating the rules.

The central bank's decision was conveyed to the NRBCB managing director on Wednesday through a letter.

As per the BB decision, Dewan Mujibur will not be able to serve any bank in the next two years.

The Bangladesh Bank served the letter after it had found evidence against Dewan Mujibur of irregularities and violation of the banking law.

Earlier, the central bank served a show-cause notice on him over 10 irregularities and violation of the banking law in issuing loans of Tk 701 crore which the central bank believes went against the interests of the bank's depositors.

Challenging the notice, the NRBCB managing director went to the court, but he failed to obtain any order in his favour.

SC upholds central bank order removing NRB Commercial Bank MD

The Appellate Division of the Supreme Court on Thursday upheld a Bangladesh Bank (BB) order that removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman from his post for misconduct and violating the rules, reports UNB. A five-member Appellate Division bench, led by Acting Chief Justice Abdul Wahhab Miah, passed the order in the morning. The apex court also asked the authorities concerned to dispose of the rule that was issued by the High Court seeking explanation as to why the removal order should not be declared illegal. Attorney General Mahbubey Alam stood for the Bangladesh Bank while former Justice Nazrul Islam Chowdhury represented Dewan Mujibur Rahman. Earlier on January 7, Chamber Judge of the Appellate Division upheld BB order that removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman and sent the petition to full Appellate Division bench for hearing on January 11. On December 7, the High Court stayed a Bangladesh Bank (BB) order that removed Mujibur Rahman from his post for misconduct and violating the rules. A two-member HC bench comprising Justice Syed Muhammad Dastagir Husain and Justice Md Ataur Rahman Khan passed the order in response to a writ petition filed by Dewan Mujibur Rahman challenging the central banks order. The court also issued a rule asking the authorities concerned to explain as to why the removal order should not be declared illegal. All concerned, including the BB governor, were asked to reply to the rule within four weeks. On December 5, BB in an order removed NRB Commercial Bank MD Dewan Mujibur Rahman for misconduct and violating the rules. The central banks decision was conveyed to the NRBCB managing director on Wednesday through a letter. As per the BB decision, Dewan Mujibur will not be able to serve any bank in the next two years. The Bangladesh Bank served the letter after it had found evidence against Dewan Mujibur of irregularities and violation of the banking law. Earlier, the central bank served a show-cause notice on him over 10 irregularities and violation of the banking law in issuing loans of Tk 701 crore which the central bank believes went against the interests of the banks depositors. Challenging the notice, the NRBCB managing director went to the court, but he failed to obtain any order in his favour.