Home ›› Banking & Insurance

Bank Asia’s MD Adil Chowdhury resigns

Staff Correspondent
31 Jul 2023 21:01:19 | Update: 31 Jul 2023 21:11:47
Bank Asia’s MD Adil Chowdhury resigns
Bank Asia’s President and Managing Director Areef Billah Adil Chowdhury — Collected Photo

Bank Asia’s President and Managing Director Areef Billah Adil Chowdhury has resigned – after eight months of his appointment - showing physical illness. Adil Chowdhury was appointed as Bank Asia MD in November last year.

He sent the resignation letter to the bank authority last Wednesday. However, the bank has not approved it yet. The board will approve his resignation in the next meeting, sources said.

Meanwhile, Bank Asia has issued a notice in this regard stating that the board of directors approved leave for Adil Chowdhury from July 30 to October 21 this year.

The official order added that during this period, Shafiuzzaman, additional managing director and chief credit officer (CCO) will hold the current charge of Adil Chowdhury’s position in addition to his existing responsibilities.

The Business Post could not contact Adil Chowdhury for his response.

Adil Chowdhury had been appointed as the 6th president and MD (CC) of the bank last year.  Prior to his role, he held the position of Additional Managing Director, supervising Global Banking (ID, OBU, FRD, CTSU, and CPTC), Global Subsidiary Operations, and the Special Asset Management Division of the Bank.

He has over 22 years of banking experience with serving as director of The Bank of Nova Scotia (Canada) in Hong Kong and Singapore. He brings with him his international banking, group treasury, regulatory laws, and comprehensive enterprise-wide operations experiences, according to Bank Asia.

He embarked on his professional journey as Deputy Manager in Credit Agricole Indosuez, Dhaka in 1995. After serving there for more than 3 years, he joined American Express Bank (Dhaka). In 1999, He joined as Head of Treasury at The Bank of Nova Scotia (Dhaka), where he set up the treasury department and ensured best governance & practices.

In 2001, he was relocated to The Bank of Nova Scotia in Hong Kong where he was responsible for business development and strategic planning that covered financial institutions for 13 countries in Asia.

He was promoted to Director of International Funding under Group Treasury at The Bank of Nova Scotia, Singapore, in January 2011, where his mandate covered Asia Pacific Region & Middle East North Africa, managing a portfolio of 9 billion US dollars while serving Central Banks & Government Investment Agencies.

He holds a Bachelor’s Degree with Honours in Electrical Engineering from the University of Texas at Austin, USA, and an MBA Degree from Richard Ivey School of Business, University of Western Ontario, Canada. He also holds several International Financial Markets Regulatory & Practices (FMRP) certifications from different countries & regions.