AHM Habibur Rahman

AHM Habibur Rahman, the newly appointed chairman of scam-ridden Sonali Bank, has inherited a lot of challenges from his predecessor in bringing back the bank's lost image.

As the bank closes its balance sheet on December 31 for the year, Rahman will have to get down to business right away.

The finance ministry issued an order yesterday appointing Rahman, a former Dhaka University professor, as the bank's chairman replacing Kazi Baharul Islam. The appointment has been made effective immediately.

“I will work with an utmost commitment for the sake of the bank and the country,” Rahman told The Daily Star by phone.

Currently, Rahman is the dean of Business Faculty at Primeasia University. He was a former chairman of the Board of Directors of Bangladesh Shilpa Rin Shangstha (now merged with the BDBL) during 1999-2000.

State-run Sonali Bank was the focal point in the Tk 3,600 crore loan scam that involves a little-known textile company, Hall-Mark Group. The scam has rattled the country's entire financial sector and created volatility in the money market.

Baharul Islam continued his duty as chairman of the board although his three-year-tenure expired in September. The government had dissolved the Sonali Bank board, but kept him as the bank's chairman until now.