NRB Bank Managing Director (MD) Mamun Mahmood Shah has resigned. He resigned about two weeks before the contract was due to expire. He submitted his resignation to the chairman of the bank on January 21.
Mamun Mahmood Shah joined NRB Bank as Managing Director on February 3, 2021. His tenure was up to February 2. However, in his resignation letter submitted to the chairman of the bank on January 21, the MD mentioned that due to personal reasons, he is not able to work in NRB Bank for the duration of his term.
Earlier, four bank MDs resigned last year. However, three of them were reinstated by the central bank. This bank was established in 2013 on the initiative of expatriates. Although NRB Bank was formed on the initiative of expatriate businessmen, many of the directors now live permanently in the country. Many of the original founders of the bank have moved away from the bank.