Abdul Kadir Molla and AZM Shofiuddin have been elected as the chairman and vice- chairman of South Bangla Agriculture & Commerce (SBAC) Bank Limited respectively at the occasion of the bank’s 126th board meeting on Sunday.
Abdul Kadir Molla has been a sponsor director since the inception of the bank in 2013. He is also the founder chairman and managing director of Thermax Group Limited.
He joined the bank as SM Amzad Hossain, the former chairman stepped down from the post of the chairman of the board, citing illness amid allegations of irregularities and corruption probe by the anti-graft watchdog.
On August 19, the Anti-Corruption Commission and Bangladesh Financial Intelligence Unit (BFIU) started a probe into allegations of money laundering against Amzad.
He faces several other allegations, including misusing power and laundering money by opening various shell companies in home and abroad.