The Ministry of Commerce has declared Real Estate and Housing Association of Bangladesh (REHAB) president position vacant, after Md Ali Afzal was classified as a loan defaulter.
According to an official notification issued on Monday, the decision was taken under Section 23(1)(b) of the Trade Organisations Act, 2022.
The ministry stated that a Credit Information Bureau (CIB) report from Bangladesh Bank identified Afzal as a loan defaulter in his capacity as a director of a business institution.
The order was issued by the Commerce Organisation-2 section of the ministry at Secretariat in Dhaka and signed by Deputy Secretary Chowdhury Samiya Yasmin.
The formal notification was sent to REHAB’s senior vice president at its central office located at National Plaza, 1/G Free School Street, Sonargaon Road, Dhaka.
Copies of the memorandum were also forwarded for information and required action to the registrar (additional secretary) of Office of the Registrar of Joint Stock Companies and Firms, the administrator of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the private secretaries to both the commerce minister and the commerce secretary, the office secretary of REHAB, and the personal officer to the Director General of the Commerce Organisation wing.
