BB removes International Leasing MD over concealment allegations
Imdadul, while serving as MD of GSP Finance Company (Bangladesh) Ltd, allegedly concealed several issues, including the classification of the defaulted loan of Keya Cosmetics as regular.
Bangladesh Bank has removed Md Imdadul Islam from his position as managing director of International Leasing and Financial Services Limited.
The Department of Financial Institutions and Markets of the central bank sent a letter to the chairman of Uttara Finance and Investments Ltd in this regard yesterday (20 April), advising the appointment of an experienced official as acting MD.
According to the letter, Imdadul, while serving as MD of GSP Finance Company (Bangladesh) Ltd, allegedly concealed several issues, including the classification of the defaulted loan of Keya Cosmetics as regular, a Tk10 lakh fine imposed on its subsidiary, and the imposition of excessive interest.
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Based on the alleged concealment of these facts during his appointment as MD of International Leasing, Bangladesh Bank has taken this decision.
