NRBC Bank: Removal of MD upheld by top court

The Supreme Court yesterday upheld the Bangladesh Bank's decision to remove Dewan Mujibur Rahman from the post of NRB Commercial Bank managing director.

The apex court also ruled that its stay on the High Court order that had stayed the central bank's decision would continue.

A five-member bench of the Appellate Division headed by Justice Md Abdul Wahhab Miah, who is performing the functions of the chief justice, passed the order after disposing of a petition filed by the NRB Commercial Bank chairman challenging the HC order.

NRB Commercial Bank lawyer Mehedi Hasan Chowdhury told The Daily Star that the apex court's stay on the HC directive regarding the removal of Mujibur would continue following the SC order.

Therefore, Bangladesh Bank's decision to remove Mujibur will be in force, he said, adding that the central bank had already removed him.

On December 6 last year, the BB removed Mujibur from the NRB Commercial Bank for his alleged involvement in a number of loan scandals involving around Tk 700 crore.

Following a writ petition filed by Mujibur, the HC on December 7 stayed the BB decision.

On January 7, the SC chamber judge stayed the HC order until  yesterday.