DHAKA: AKM Shifiqur Rahman, managing director (MD) of National Bank Limited, resigned from his job on Tuesday showing personal ground five moths before his job-tenure ends.

Additional MD Shamsul Huda Khan was asked to discharge duty as acting Managing Director until new MD joins the post.

Source said loan default at the bank has been increased alarmingly. Several big business groups took loans from the bank’s Gulshan and Chittagong branches violating the rules and regulations.

The bank has not had the sufficient deposit against the given loans that is not being collected, the sources added.

Amid this situation, a Bangladesh Bank-investigation found a loan scandal incident at the bank’s Gulshan branch.

Besides, the bank somewhat stands on risky positing after it lend money to Nurjahan Group, Mastered Trading, GMG Airlines.

For these reasons, the bank’s Board of Directors was disappointed on Shafiqur, who left office on Tuesday.

BB approved Shafiqur as the MD for a year on March 5 this year.

BDST: 1519 HRS, OCT 01, 2014