“ Conflict in the Sikder family for the control of the National Bank ”

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A dispute has arisen between directors of the National Bank Limited (NBL) over control of the private bank after the death of its chairman.

Things get worse as the bank has disbursed loans by flouting the rules while the additional managing director (MD) continues to perform his duties as interim managing director despite his term expiring.

Bangladesh Bank also has to step in from time to time.

The Sikder family controls the NBL. The sons of the late president of the bank, Zainul Abedin Sikder, want to take full control of the bank. On the other hand, the daughter of the late president and lawmaker Parveen Haque Sikder and other administrators want to revive the image and financial loss of the bank. So she wants to protect him from his brothers.

On Monday, Bangladesh Bank asked additional managing director ASM Bulbul not to perform his duties as acting managing director. Controlled by the sons, NBL chairman Monwara Sikder on Tuesday approved the extension of ASM Bulbul for an additional month, effective April 1. The Bangladesh Bank overturned the decision on Tuesday at noon. Under these circumstances, the chairman of the bank’s executive committee, Perveen Haque Sikder, ordered an emergency meeting of the committee.

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