BB dissolves National Bank board for third time
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The step has been taken for the sake of the depositors' money, according to the order issued by BB
Bangladesh Bank (BB) has dissolved the board of the troubled National Bank for the third time.
In an order issued by BB Governor Ahsan H Mansur, the banking regulator said it has dissolved the bank's board for the sake of the depositors' money and public interest.
The BB said the financial condition of the bank deteriorated due to the board's failure in taking policy decisions.
The board was also engaged in activities against the interest of the depositors, according to the BB.
The banking watchdog dissolved and restructured the board of directors of National Bank for the first time in December last year, but dissolved that board again in May this year for the second time.