The New Nation - Internet Edition

Staff Reporter

Three directors have been dropped from the Board of Directors of International Finance Investment and Commerce Bank Limited (IFIC), while three new directors have been elected.

The removed directors include a former chairman of IFIC Bank Ltd. However, sources at IFIC Bank Ltd said none was removed. They themselves quitted their posts according to the existing rules. Three new directors have been elected to the Board of Directors.

The decision was taken at the 29th annual general meeting of IFIC Bank Ltd on October 25 last.

The three new directors who were elected unanimously are Didarul Alam, Chowdhury Nafiz Sharafat and Tanim Noman Sattar. Besides, five previous directors were elected at the AGM. They are Mohammad Lutfar Rahman Badal, Abu Taher Mohammad Golam Maruf, Morshed Murad Ibrahim, Aminur Rahman and Yasin Ali.

New chairman of IFIC Bank Ltd Lutfar Rahman said former chairman Mosaddek Ali Falu, Enayetur Rahman and Abdul Hamid Chowdhury went on retirement before their tenures were over. Of them, Falu and Enayetur Rahman are now in jail. However, they will remain shareholders of the IFIC Bank Ltd.

Meanwhile, 10 per cent bonus share for the years 2003, 2004 and 2005, and 24 per cent bonus share for the year 2006 were announced at the IFIC Bank's AGM.