Modhumoti Bank Explained

Modhumoti Bank PLC.
Type:Public Limited Company
Industry:Bank
Hq Location:Dhaka
Hq Location Country:Bangladesh
Key People:Mr. Humayun Kabir (Chairman)

Modhumoti Bank PLC. is a private limited commercial bank in Bangladesh.[1] The bank was established in 2013. Md Shafiul Azam is the Chief Executive Officer of the Bank.[2] Humayun Kabir is the chairperson and Sheikh Salahuddin Jewel is the Vice Chairman of the Bank.[3] Sheikh Fazle Noor Taposh is a director of the Bank.

History

Modhumoti Bank Limited was established on 19 September 2013.[4] Md Shafiul Azam was appointed managing director of the bank in August 2016.[5]

In 2018, Modhumoti announced plans to focus on becoming a bank for Small Middle Enterprise in rural areas.[6]

In August 2019, Md Shafiul Azam was re-appointed managing director of Modhumoti Bank Limited.[7] From 2018 to 2019, non performing loans at the bank increased by 555 per cent to 580 million taka.[8]

Former Mayor of Dhaka South City Corporation, Sayeed Khokon, accused the incumbent mayor of North Dhaka and Modhumoti Bank Limited director, Sheikh Fazle Noor Taposh, of hording illegal wealth at the Bank in January 2021.[9] Khokon was sued for defamation by lawyers aligned with Taposh.[10] In June 2021, The Credit Rating Agency of Bangladesh rated the bank as A1 category.[11] Manwar Hossain, son of Anwar Hossain and chairman of Anwar Group of Industries in a director of the Bank.[12]

Board of directors

!Name!Position!Representing!Reference
Humayun KabirChairman[13]
Shaikh SalahuddinDirector
Sheikh Fazle Noor TaposhDirector
Mohammad Ismail HossainDirectorSharmin Apparels Limited
Nemai Kumer SahaDirectorSandhani Life Insurance Company Limited
Salahuddin AlamgirDirector
Mostafa KamalDirectorTanveer Oils Limited
Tanjima Binthe MostafaDirectorEverest Power Generation Co. Limited
Humayun Kabir BabluDirector
Shahana YasminDirector
Sultana JahanDirector
A Mannan KhanDirector
Ferdousi IslamDirectorAzbal International Limited
Manwar HossainDirectorAnwar Jute Spinning Mills Limited
Tanveer Ahmed MostafaDirectorMeghna Flour & Dal Mills Limited
Md. Mahbubur RahmanDirector
Didarul AlamDirector
Syeda Sharmin HossainDirectorSharmin Fashions Limited
Yusuf Hussain HumayunIndependent Director
Shaheduzzaman ChoudhuryIndependent Director
Md. Shafiul AzamCEO and Managing Director

Notes and References

  1. News: Modhumoti Bank opens Digital Point in Gazipur . Daily Sun . 2019-04-13.
  2. News: Md Shafiul Azam, new CEO of Modhumoti Bank . 2016-08-10 . The Daily Star . 2019-04-13.
  3. Web site: Board of Directors . 2021-01-13 . en-US.
  4. Web site: Modhumoti Bank Limited . www.modhumotibankltd.com . 2019-04-13.
  5. News: 2016-08-10 . Md Shafiul Azam, new CEO of Modhumoti Bank . 2022-12-06 . The Daily Star . en.
  6. News: Modhumoti Bank puts thrust on SME, digitisation . The Financial Express . Dhaka . 2019-04-13.
  7. News: 2019-08-08 . Shafiul Azam reappointed Modhumoti Bank MD . 2022-12-06 . The Daily Star . en.
  8. News: Uddin . AKM Zamir . 2019-03-03 . 14 banks see unusual rise in default loans . 2022-12-06 . The Daily Star . en.
  9. News: Taposh deposited embezzled money in Modhumoti Bank, ex-DSCC mayor alleges . 2021-01-13 . The Financial Express . Dhaka . en.
  10. News: 2021-01-12 . Incumbent vs Ex-Dscc Mayor: Verbal spat now moves to court . 2021-01-13 . The Daily Star . en.
  11. News: 2021-06-27 . Modhumoti Bank gets ‘A1’ rating . 2022-12-06 . The Daily Star . en.
  12. News: 2021-09-16 . Anwar Group of Industries gets new chairman . 2022-12-06 . The Daily Star . en.
  13. Web site: Board of Directors . 2023-02-12 . en-US.