United Commercial Bank (UCB) is conducting a forensic audit to investigate the actions of its previous board of directors and management, announced new chairman Sharif Zahir. This audit follows the reconstitution of the bank’s board by the Bangladesh Bank on August 27 and the resignation of managing director Arif Quadri. The former board, particularly former land minister Saifuzzaman Chowdhury Javed and his family, is alleged to have misused the bank for personal gain. Zahir highlighted instances where decisions were made without mandatory management reports and assured that legal actions would be taken against those involved in malpractices. During the press conference, UCB also introduced new deposit and loan products aligned with the “Three Zeroes” vision—aiming for zero poverty, zero unemployment, and zero net carbon emissions—emphasizing its commitment to sustainable banking solutions.
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