Shayan F Rahman, son of Salman F Rahman, lost his directorship of IFIC Bank due to defaulted loans.

The Bangladesh Bank has rejected his application for re-appointment as a director of IFIC Bank citing his defaulted loan as the reason. The central bank sent a letter in this regard to the managing director of IFIC Bank last Sunday.

The letter said that Shayan F Rahman's company Esses Fashions Ltd defaulted on loan repayments.

So, Shayan cannot hold onto his directorship, said the central bank.

Officials of the Bangladesh Bank said IFIC Bank appointed Shayan as a director despite him having defaulted on loans. Due to this, Salman F Rahman may also be dropped from IFIC Bank. But if the loan has already been regularised, then there is no problem with him being a director.