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SM Amzad Hossain, chairman of new generation South Bangla Agriculture and Commerce (SBAC) Bank, has resigned from his post citing physical illness.
The businessman from Bagerhat had been serving as the bank’s chairman since 2013.
He submitted his resignation to the bank’s board of directors on September 7, but it has not been accepted yet.
“I have been suffering from various illnesses during the last couple of months and also had to be hospitalised for treatment,” he said in his resignation.
The Business Post has obtained a copy of his resignation.
“In this circumstance, I am writing to inform you of my intention to resign from my position after the upcoming annual general meeting scheduled for October,” he said.
He requested the board of directors to complete the necessary formalities to elect a chairman immediately.
A high official of the bank said the bank would accept Amzad’s resignation in the upcoming board meeting scheduled for October 26.
He said a new chairman would also be elected in the meeting. Amzad is suffering from kidney disease, he added.
On August 19, the Anti-Corruption Commission decided to investigate money laundering allegations against Amzad.
He faces several other allegations, including misusing power and laundering money by opening various shell companies at home and abroad.
In March this year, the Bangladesh Financial Intelligence Unit froze the accounts of Amzad, his wife, and daughter for 30 days on graft charges.
