Commerce ministry declares Rehab president’s post vacant over loan default

The Commerce Ministry has declared the post of Real Estate and Housing Association of Bangladesh (REHAB) president Md. Ali Afzal vacant as he became a loan defaulter while serving as a director of a defaulting organization.

The declaration was made in a letter signed by Chowdhury Samia Yasmin, deputy secretary of the Trade Organisation-2 branch of the Commerce Ministry, on Monday (September 14).

The letter stated that according to the Credit Information Bureau (CIB) report of Bangladesh Bank, Rehab president Md. Ali Afzal has become a loan defaulter as a director of a loan-defaulting organization. For this reason, his presidential post has been declared vacant under Section 23(1)(b) of the Trade Organization Act, 2022.