Selim RF Hussain on Tuesday stepped down as managing director and chief executive officer of BRAC Bank PLC, effective immediately, citing personal reasons.
The bank鈥檚 board of directors accepted his resignation and has sought approval from the Bangladesh Bank. Selim鈥檚 departure comes nine months before the scheduled end of his tenure.
Tareq Refat Ullah Khan, currently additional managing director and head of corporate and institutional banking, has been appointed as acting MD and CEO.
In an internal email to BRAC Bank employees, Selim confirmed his resignation, saying: 鈥楢ll good things must come to an end and such is the case for my time at BRAC Bank PLC.鈥�
Selim joined BRAC Bank on November 8, 2015 and has since led the bank through a period of significant growth and transformation. Prior to this, he served as MD and CEO of IDLC Finance Limited, where he was credited with turning the non-bank financial institution into a market leader over six years.
At Standard Chartered, he served as CFO in Bangladesh and later as head of finance and strategy for its consumer banking division in Mumbai.
Selim was also chairman of the Association of Bankers, Bangladesh, the forum of the country鈥檚 top banking executives.
