Phoenix Finance MD dismissed

Bangladesh Bank has suspended Intekhab Alam, managing director of Phoenix Finance and Investments Ltd, over allegations of being involved in loan irregularities and activities that go against the interest of depositors.

The central bank issued a press notification in this regard on Thursday (December 28).

Confirming the matter, Bangladesh Bank Executive Director also spokesperson Md Mezbaul Haque said allegations of loan irregularities have been received against the MD. He has been temporarily suspended as he was involved in various activities against the interests of depositors.

The central bank instructed to suspend the MD and attach him with the human resources department and appoint a new chief executive for the company.