Desk Report:
BRAC Bank MD Selim RF Hossain suddenly resigns, sparking controversy
Selim RF Hossain, the managing director and chief executive officer (CEO) of one of the country’s top private banks, has suddenly resigned. The sudden departure of this experienced banker, who had been leading the bank since 2015, has raised various questions and discussions in the banking sector. Because his tenure at BRAC Bank was till March next year.
He submitted his resignation to the bank’s board of directors on Tuesday (May 27), and the board accepted it and sent it to Bangladesh Bank for approval. Selim RF Hossain told Ajker newspaper, ‘I have resigned voluntarily. The reason for my resignation is completely personal. I am not joining anywhere for now. I will take a leave.’
There have been rumors about his resignation before the end of his term. Those concerned say that some complicated issues were at work behind Selim Hossain’s resignation. There is talk that his relationship with the central bank has deteriorated recently.
Quoting Selim Hossain, bdnews24.com wrote, ‘There was no working situation here. That is why I resigned. And I do not want to comment on this.’
In a farewell letter to the bank’s officers and employees, Selim RF Hossain wrote, ‘All good things come to an end and this applies to my time at BRAC Bank as well.’
In the letter, he also said, ‘It was a great honor and opportunity for me to work with you for almost 10 years. Together, we have built a remarkable institution, which has been established as an exemplary model in the country’s banking sector.’
In a report on this, Prothom Alo wrote, ‘After the fall of the Awami League government, he spoke against Bangladesh Bank officials at an event. After that, his relationship with the central bank deteriorated, which affected the management of BRAC Bank.’
BRAC Bank MD Selim RF Hossain suddenly resigns, sparking controversy
The report further mentioned that as a result, Bangladesh Bank obstructed some of BRAC Bank’s activities; withheld files and tightened surveillance. In addition, he expressed his disagreement with one of the directors of the bank’s board of directors and his anger over the regular presence of another director in the office.
It is learnt that he is going to Canada on Wednesday to attend his only child’s university convocation. He has not yet decided when he will return home.
Selim RF Hossain joined BRAC Bank as MD in November 2015. Before that, he worked as Managing Director of IDLC Finance for six years. His tenure at BRAC Bank was till March 2026.
He was the Chairman of the Association of Bankers, Bangladesh (ABB). As a result, he played an active role in banking policy-making.
In a letter to the employees, the bank’s Chairman Mehriyar M Hasan said that Additional Managing Director and Head of Corporate and Institutional Banking Department Tarek Refat Ullah Khan has been given the responsibility of Acting MD.