National Bank gets Abdul Awal Mintoo as chairman, Moazzam Hossain as vice-chairman

The National Bank has appointed Abdul Awal Mintoo as the chairman and Moazzam Hossain as the vice chairman.

The decision was taken at the 505th meeting of the board of directors today (22  August) following the dissolution of the previous board by the Bangladesh Bank two days ago.

The new board was formed under the 'Bank-Company Act, 1991, said a media statement.
 
Abdul Awal Mintoo is an industrialist and business leader in Bangladesh. He is the former president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). 

Additionally, he serves as the chairman of several companies, including Lal Teer Seed Limited, North South Seed Limited, and Pragati Life Insurance Limited. 

Mintoo also acts as the advisor to several organisations, such as Heidelberg Cement Bangladesh Limited, Bangladesh Petrochemical Company Limited, Multimode Textile Mills Limited, and Multisourcing Limited. 

Born in Alyarpur village of Feni, Abdul Awal Mintoo obtained a diploma in Nautical Science from Mercantile Marine Academy, Chittagong. He earned both BSc and MSc degrees from the State University of New York Maritime College in 1973. Later, he completed an MSc in Agricultural Economics from the University of London and a Master's in International Business Law from Queen Mary University of London. 

Mintoo has also made contributions to education, participating in various social and educational initiatives, including the establishment of Iqbal Memorial College in his hometown. He is the author of several books, including "Bangladesh: Anatomy of Change," published by Athena Press, London.
 
On the other hand, Moazzam Hossain is an entrepreneur in Bangladesh. He is one of the sponsor directors and former chairman of National Bank Limited. 

After completing his graduation under the University of Dhaka, he left for higher studies at Nagoya University, Japan in the year 1968. He returned to Bangladesh in 1974 after completing post-graduation from Nagoya University. During his stay in Japan, he embarked in different business ventures in 1971. 

By age 24, Hossain established himself as one of the youngest entrepreneurs in Bangladesh. He pioneered in introducing reconditioned cars from Japan and the pay as you earn concept in Bangladesh, reads the press release.

Hossain, founder of Hosaf Group of Companies, was one of the first entrepreneurs in Bangladesh to have expanded his business both at home and abroad. He has played a role in the establishment of the first joint venture company for deep sea fishing and barter trade with the East European Countries. 

Currently, Hossain is the chairman of Hosaf Group of Companies. He was also the former chairman of Pragati Insurance Company Limited, president of Bangladesh Energy Companies Association, vice president of BGMEA and chairman of Presidency University.

BB dissolves National Bank board again, forms new 7-member board

Earlier on 20 August, the Bangladesh Bank dissolved the board of directors of the National Bank on the grounds of numerous irregularities for the third time.

According to an order issued by Governor Ahsan H Mansur on Tuesday, the banking regulator dissolved the National Bank's board to protect the depositors' money and public interest.

The order states that the National Bank Limited board is involved in activities contrary to the interests of the bank company and depositors by disrupting the financial condition of the bank due to policy-making weakness.

Besides, the central bank has formed a new seven-member board which has three directors and four independent directors.