The New Nation - Internet Edition

Staff Reporter

Md Lutfar Rahman was named the new Chairman of International Finance Investment and Commerce (IFIC) Bank in a board meeting held in the city yesterday.

Lutfar Rahman replaced detained BNP leader Mosaddek Ali Falu as Chairman of the bank.

An extraordinary general meeting and 27th, 28th, 29th and 30th general meetings were held yesterday at a city hotel where about 5,724 share holders participated.

The meeting was presided over by newly elected chairman and former vice- chairman of the bank Md Lutfar Rahman. The AGMs of the bank could not be organised in due time because of Court obligations. Lutfar Rahman in his speech in the AGM said the bank had profited much in the past four years.

He said the capital, profit, loan and foreign business has increased in good number. The bank had set up 9 branches in the past four years and will set up another five in the coming days.

The new chairman of the bank said, the bank was now positioned at 19th among 29 private banks of the country, which he hoped to be 10th in the next year.

Directors of the bank Abdul Hamid Chowdhury, Abu Tahir Md Golam Maruf, Murshed Murad Ibrahim, Anisur Rahman, Md Yasin Ali, Mahmudul Haque Bhuiyan, Arastoo Khan and Mohammad Ali Khan were present at the AGM.