Stay on HC's Pubali Bank order

The Supreme Court has stayed the High Court’s order which vacated eight positions of directors at the Pubali Bank.

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Chamber Judge Justice Hasan Foez Siddique gave the order on Wednesday following a plea by the bank authorities.

On Tuesday, the High Court vacated the posts due to non-compliance of share-holding requirements.

Bangladesh Securities and Exchange Commission (BSEC), in a 2011 order, made it mandatory for bank directors to hold a minimum of 2 percent share of the bank.