Farasath Ali will not be allowed to join any bank or financial institution as its director till 21 June, 2022
The Bangladesh Bank has upheld a two-year ban on NRB Commercial (NRBC) Bank's former chairman Engineer Farasath Ali which it placed on him in July 2020 for his involvement in financial irregularities.
The decision came from the central bank's board meeting held on Tuesday.
Earlier, this ousted chairman of NRB Commercial Bank submitted a plea to the central bank seeking a release from the ban.
Due to this embargo, Farasath Ali will not be allowed to join any bank or financial institution as its director till 21 June, 2022.
On 10 December, 2017, Farasath Ali had to resign from the post of chairman of the board of directors of NRB Commercial Bank after the Bangladesh Bank found allegations of financial irregularities against him.
Later, the central bank investigated the matter and found evidence of allegations against him and consequently placed a two-year ban on him in July 2020.