BRAC Bank MD steps down

Selim RF Hussain has resigned from the posts of managing director and chief executive officer (CEO) of BRAC Bank, effective from yesterday, according to a statement from the private lender. 

Speaking to The Daily Star, he said it was on personal grounds.

"The board has accepted Hussain's resignation and has sought Bangladesh Bank's approval in this regard," the bank said.

BRAC Bank has appointed Tareq Refat Ullah Khan, additional managing director and head of corporate and institutional banking, as the managing director and chief executive officer (current charge), as per the statement.

In an email to his colleagues, Hussain informed that he had tendered his resignation to the chairman of the bank's board of directors.

"All good things must come to an end, and such is the case for my time at BRAC Bank PLC," he said in the email seen by this newspaper.

"It has been a great privilege for me to work with you for close to ten years now as we, together, built an outstanding institution and a role model in the banking industry," he said.

Hussain joined BRAC Bank as managing director and CEO on November 8 of 2015, according to the bank's website.

He previously served as managing director and CEO of IDLC Finance Ltd, where he was credited with driving significant growth over six years.

Before joining the IDLC, Hussain held senior leadership roles at multinational banks, including ANZ Grindlays Bank and Standard Chartered Bank, serving for 24 years in Bangladesh, India, and Australia.

He was the head of finance and strategy for Standard Chartered's consumer banking division in Mumbai and its chief financial officer in Bangladesh from 2002 to 2007.

Hussain is currently the chairman of the Association of Bankers, Bangladesh—a platform of chief executives of banks.