Govt removes REHAB president over loan default

The Ministry of Commerce has relieved Md Ali Afzal from the presidency of the Real Estate and Housing Association of Bangladesh (REHAB) and declared the post vacant.

The decision was disclosed in a gazette notification issued on Monday, signed by Chowdhury Samia Yasmin, Deputy Secretary of the Trade Organisation-2 branch.

According to the notification, Md Ali Afzal was identified as a loan defaulter as a director of a defaulting company, based on a Credit Information Bureau (CIB) report of Bangladesh Bank.

In view of this, the ministry declared the REHAB presidency vacant under Section 23(1)(b) of the Trade Organisations Act, 2022.

The office order has been sent to the relevant departments and offices, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the REHAB office for information and necessary action.