Bangladesh Bank has removed Md Shahidul Ahsan from Mercantile Bank’s board of directors over his alleged involvement in money laundering.  

Ahsan’s complicity came up in a detailed investigation recently carried out by the central bank, Md Serajul Islam, spokesperson and an executive director of Bangladesh Bank, told The Daily Star.

The banking regulator issued the removal instruction to Mercantile Bank on January 2 as per the probe body’s recommendation, he said.

Mati Ul Hasan, spokesperson and additional managing director of Mercantile Bank, said the lender had already complied with the instruction.

“The lender’s board yesterday held a meeting at its head office in the capital to this end where Ahsan was withdrawn,” he said.

Ahsan could not be reached on his mobile phone for comment despite repeated attempts.