By Sunahwar Ali:
As a founding NRB sponsor of NRBC Bank PLC, I have been raising concerns over governance failures since November 2023. The independent board formed in March 2025, chaired by Md. Ali Hossain Prodhania, along with the appointment of Dr. Md. Touhidul Alam Khan as MD & CEO in May 2025, promised a new era of reform. However, these promises have yet to translate into meaningful action.
A Breach of Trust
On 20 January 2026, my personal experience with the bank’s subsidiary, NRBC Bank Securities Ltd., revealed a deeply troubling practice. I received a demand notice for Tk 3,050 to cover an unexplained negative balance of Tk 2,900 in my BO account (ID: 1004). This demand was made without any prior notice, my consent, a clear explanation, or even a basic transaction history. It has become evident that my account was used for margin lending without my knowledge or authorization.
Aligned with Ongoing Regulatory Probe
This incident appears to be a concrete example of the very allegations currently being investigated by the Bangladesh Securities and Exchange Commission (BSEC) in a probe ordered in mid-March 2026. The investigation is looking into serious breaches, including:
· Margin accounts being opened and used without client consent.
· The disbursement of unauthorized margin loans and trading in negative equity.
· The submission of fabricated data to regulatory authorities.
Empty Praise vs. Ground Realities
Despite these serious operational failures at the subsidiary level, the bank’s leadership continues to project an image of “governance excellence,” as highlighted by the Chairman’s receipt of an award in January 2026. Meanwhile, founder sponsors’ complaints are ignored, communication is blocked, and the institution fails to address clear violations occurring within its own entities.
Awards and messages of unity ring hollow when long-standing stakeholders face such opaque and exclusionary practices.
The Path Forward
The ongoing BSEC probe is not just a formality; it is a necessary step toward forcing transparency and accountability upon the institution. Real reform must protect the interests of clients and stakeholders, not just serve as a tool for public relations.
Justice for those affected by these malpractices is long overdue.
Sunahwar Ali
Founder Sponsor, NRBC Bank PLC
Former Chief Whip, Tower Hamlets Council
Anti-Corruption Campaigner (London–Dhaka)
March 19, 2026
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