The Bangladesh Bank has once again dissolved the National Bank board on Sunday (5 May).

This time around, the board excludes members of the Sikder family – the bank's late founder Zainul Haque Sikder's wife Monowara Sikder, and sons Rick Haque Sikder and Ron Haque Sikder.

The central bank has formed a new board of directors with ten members, headed by the new chairman Khalilur Rahman, the bank's sponsor director, according to sources.

It sent a letter to the managing director of National Bank informing dissolving of the bank's existing board of directors.

Commenting on the matter, spokesperson of the Bangladesh Bank Mezbaul Haque said the move was adopted for the purpose of strengthening the bank's board of directors.

"The board has been reorganised with Khalilur Rahman as the chairman in order to ensure good governance in the bank."

Earlier in 2023, the central bank ordered the dissolution of the board of National Bank and formed a new board.

It then made Syed Ferhat Anwar the new chairman. He was a former professor of the Institute of Business Administration under Dhaka University.

Parveen Haque Sikder, a director of the commercial bank, had written to the Bangladesh Securities and Exchange Commission (BSEC) that she feared the board might manipulate the next election of the bank's board of directors.

The banking regulator, this time, removed majority of the previous directors, including Syed Ferhat Anwar and Parveen Haque Sikder.