Exim Bank's acting MD resigns
His resignation was submitted during a board meeting held last Tuesday
M Akhtar Hossain, acting managing director and additional managing director of Exim Bank, has resigned amid ongoing discussions regarding the merger of five Islamic banks.
His resignation was submitted during a board meeting held last Tuesday, officials familiar with the matter confirmed The Business Standard today (23 June).
Following his resignation, Abdul Aziz, another additional managing director, has been appointed as acting managing director.
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Akhtar joined Exim Bank in January this year.
Earlier, on 4 January, Exim Bank's board sent former managing director Mohammad Feroz Hossain on leave based on recommendations from the Bangladesh Bank.
The central bank is currently reviewing the quality of assets of five Islamic banks —Exim Bank, First Security Islami Bank, Union Bank, Global Islami Bank, and Social Islami Bank — with plans to merge them.
International audit firm Ernst & Young is conducting asset evaluations for this process.
As per Ernst & Young's assessment, Exim Bank holds loans worth Tk52,076 crore, of which Tk25,101 crore (48.20%) are classified as non-performing. In contrast, the bank had reported a non-performing loan ratio of only 3.82%.
