Basic Bank holds 36th annual general meeting

The 36th Annual General Meeting (AGM) of state-owned BASIC Bank Limited was held on 22 September at the bank's head office, with Chairman Helal Ahmed Chowdhury presiding.

Nazma Mobarek, secretary of the Financial Institutions Division (FID), Ministry of Finance, attended as the representative of the government, the bank's sole shareholder. Managing Director and CEO Md Quamruzzaman Khan welcomed the guests and responded to queries. The meeting approved the bank's 2024 financial statements and addressed questions regarding its financial performance.

Also present were Munshi Abdul Ahad, additional secretary of the Finance Division; Sheikh Farid, joint secretary of FID; directors of BASIC Bank; Dr Abu Saleh Mostafa Kamal, former government official (Grade-1); Md Matiur Rahman, FCA, FCMA; Md Abdul Ahad, additional secretary (retd.); and Bangladesh Bank's executive director and board observer Md Sirajul Islam. Senior executives, including GM and company secretary Md Hasan Imam, GM and CFO Md Saidur Rahman Shohel, and representatives of audit firm Kazi Zahir Khan & Co, were also in attendance.

In her speech, FID Secretary Nazma Mobarek highlighted BASIC Bank's significant potential and optimism for recovery. She assured the government of ongoing support for the bank's turnaround and emphasized the importance of employee diligence in achieving this goal.

Chairman Helal Ahmed Chowdhury emphasized the importance of strategic planning, loan recovery, regulatory compliance, and good governance, while expressing gratitude to the Ministry of Finance, Bangladesh Bank, and other regulators.

Bangladesh Bank's Executive Director, Md Sirajul Islam, underscored the need for income growth and loan recovery, pledging the central bank's support.

Deputy managing directors Abu Md Mofazzal and Subhash Chandra Das, along with several general managers, also took part in the proceedings.