SC backs BB decision to remove NRBC Bank's MD

The Supreme Court yesterday cleared the way for Bangladesh Bank to implement its decision to remove Dewan Mujibur Rahman from the post of NRB Commercial Bank's managing director.

Justice Syed Mahmud Hossain, chamber judge of the Appellate Division of the SC, stayed a High Court order that halted the BB's decision to remove Rahman.

The apex court's judge passed the order following a petition filed by NRBC Bank's chairman seeking a stay on the HC order.

The chamber judge also sent the petition of the NRBC Bank's chairman to the full bench of the Appellate Division for its hearing on January 11, Barrister Mehedi Hasan Chowdhury, a lawyer for the bank's chairman, told The Daily Star.

He said the BB decision to remove Rahman from the post of the bank's MD became effective following the SC chamber judge's order. Following a writ petition filed by Rahman, the HC on December 7 last year stayed the BB decision to remove him from the post.

The HC also issued a rule asking the BB and the government to explain why the central bank's decision to remove Rahman should not be declared illegal.

The BB on December 6 removed Rahman from the bank for his alleged involvement in a number of loan scandals involving around Tk 700 crore. Barrister Sheikh Fazle Noor Taposh appeared for NRBC Bank's chairman, while Advocate Nozrul Islam Chowdhury argued for Rahman.