Business Report :
Nuruddin Md. Sadeque Hossain, managing director (MD) of Southeast Bank PLC (SEBL), has been sent on a three-month forced leave, effective Monday, said sources from SEBL and Bangladesh Bank.
This leave will continue until August 4th. During this period, Deputy Managing Director (DMD) Abidur Rahman Chowdhury will serve as the acting MD of the bank. The decision was made by the bank’s Board of Directors, held on Sunday.
Sources at Southeast Bank have indicated that various loan irregularities occurred at the bank during the tenure of former Chairman Alamgir Kabir. Investigations into these irregularities are currently underway.
In the interest of the investigation, Managing Director Nuruddin has been sent on mandatory leave. Future actions regarding the MD will be determined based on the outcome of the investigation.
Nuruddin assumed the role of managing director of Southeast Bank on April 5, 2023. He joined the bank on June 4, 2003, as an Assistant Vice President. It is reported that the Bangladesh Bank is maintaining strict oversight on Southeast Bank and several other commercial banks concerning loan irregularities, defaults, and governance deficits.
