Sharif Zahir has been elected as the new chairman of United Commercial Bank PLC (UCB) following several changes in the bank’s board of directors.
The decision was made at a board meeting of the bank held this afternoon (29 August).
In addition to Sharif Zahir’s appointment, Independent Director Md Shazzad Hossoin has been elected as the vice chairman of the bank.
Md Tanvir Khan, a young industrial entrepreneur, has been appointed as the executive chairman. Tanvir Khan also serves as the managing director of JK Group of Industries.
Additionally, independent directors Md Yusuf Ali and Obaidur Rahman FCA have been appointed as the chairman of the Risk Management Committee and the Audit Committee, respectively.
The development comes following multiple changes in the UCB board in recent days.
On 27 August, the Bangladesh Bank reconstituted the UCB board with Sharif Zahir, a shareholder of UCB, as chairman. The new board was composed of two directors and three independent directors. However, the newly formed board was dissolved within hours and a new board was formed the following day.
The newly elected board held its first meeting today.
Zahir, who is also the managing director of Ananta Group, brings extensive experience to his new role, the bank said. The group boasts an annual turnover of $400 million and employs over 31,000 people.
Sharif Zahir holds a BSc degree in Economics and Finance from the University of Texas at Austin and is an esteemed alumni of St Francis Xavier’s Greenherald International School in Dhaka.
