Home ›› 23 Dec 2021 ›› Back
Bangladesh Bank has imposed a bar on Chowdhury Manzoor Liaquat’s appointment as the Managing Director of Islamic Finance and Investment Ltd.
Liaquat is currently serving as the MD and CEO at Union Capital Ltd, the non-bank financial institution (NBFI) allegedly unable to pay back depositors’ money.
On December 21, the central bank sent a letter to Islamic Finance chairman saying that BB did not clear Liaquat’s appointment to Islamic Finance considering the interest of depositors and the institution.
“I wanted to join Islamic Finance as managing director but I don’t know why BB stopped my appointment,” Liaquat told The Business Post.
Recently, BB instructed Union Capital Ltd not to disburse any loan exceeding Tk 1 crore as the NBFI repeatedly failed to repay depositors.
Union Capital MD Liaquat said they suspended lending activities since 2019 and already paid back at Tk 700 crore to the depositors.
The BB also instructed Islamic Finance to immediately appoint a person with a clean image and capability as MD.
Islamic Finance’s managing director Abu Zafore Md Saleh resigned from his post on June 7 this year over allegations of breaching rules and regulations in recruiting employees.
Maruf Mansur is now serving as MD (current charge).
