Sikder Family Influence Decline National Bank Ltd: The Sikder family has apparently lost its grip on the National Bank Ltd as a new board takes over the country's first private bank.
Although the key index for measuring share price performance in the stock market of Bangladesh fell to an 18-month low yesterday, some poor-performing companies saw their share values soar on the back of rumour-based trading.
Time and again, we have seen how company boards manipulate financial dealings for personal benefits, and Sikder Insurance investing most of its assets in the scandal-ridden National Bank Ltd (NBL) is just the latest example.
Sikder Insurance Company Limited has invested most of its assets in the capital market, parking funds in a single stock of scandal-ridden National Bank Ltd (NBL), in a corporate wrongdoing influenced by family ties.