Dhaka Bank MD resigns amid governance shake-up

Sheikh Mohammad Maroof, managing director of Dhaka Bank, has tendered his resignation less than a year after assuming the top post, citing personal reasons.
Maroof submitted his resignation letter to the bank’s chairman last week. Attempts to reach him by phone were unsuccessful.
Confirming the development, Dhaka Bank Chairman Abdul Hai Sarker said to the journalists, “We have not yet accepted his resignation. The matter will be placed before the board meeting scheduled for 19 August.”
Sarker also hinted at compliance issues, saying, “We did not have any issues with him personally. However, he failed to comply with some Bangladesh Bank rules.”
Maroof, who joined Dhaka Bank as MD on 1 October 2024, previously served as additional managing director and chief business officer at City Bank.
Bank insiders, however, pointed to growing internal pressure following the recent change in government, as several current and former board members became more active, creating unrest within the institution. The resignation comes at a time of sweeping changes in the banking sector. 

Over the past year, a dozen bank MDs have resigned under heightened regulatory scrutiny, as Bangladesh Bank pushes for stronger governance and accountability at the top level.
Bangladesh Bank Governor Dr Ahsan H Mansur has placed emphasis on transparency in management and strict compliance with banking rules. Under regulations, an MD or CEO is held directly responsible for ensuring sound governance, reporting irregularities, and resisting board pressure to engage in misconduct. Earlier this month, MDs of Southeast Bank, Meghna Bank, and Commerce Bank also stepped down within a week, adding to the string of high-level exits.
According to central bank rules, an MD’s resignation is subject to approval by Bangladesh Bank before it becomes effective.