DHAKA: Alauddin A Mojid has been appointed as new chairman of the state-owned BASIC Bank’s board of directors on Sunday.

The appointment was made two days after previous chairman, Sheikh Abdul Hye Bacchu, resigned on Thursday following the allegation of irregularities in loan disbursement against the bank surfaced.

Alauddin, who is now serving as chairman of another government owned specialized bank, Bangladesh Krishi Bank (BKB).

Bangladesh Bank (BB) sent letter to finance ministry asking to dissolve its board of directors of BASIC Bank in May 2014 over the allegation of massive financial irregularities involving around Tk 4,500 crore in its three branches 2009 and 2013.

BB also removed the bank’s managing director on May 25 on the same ground.

BDST: 1615 HRS, JUL 06, 2014