Prime Bank MD resigns days before contract’s expiry

The managing director of Prime Bank has resigned just days before his three-year contract is scheduled to expire, citing that it was for "personal reasons".

"I have taken the decision in order to embrace a new opportunity and challenge in the interest of my career in the days ahead," said Rahel Ahmed, one of the youngest chief executive officers in the banking sector.

Promoted to the top executive post of the second generation bank in December 2017, his contract with the bank is scheduled to end on December 13.

Ahmed earlier served the bank as a deputy managing director and chief business officer.

Contacted by The Daily Star, Ahmed said he forwarded his resignation letter to the bank's board on December 7.

The board had offered him a second term in September, he claimed. "But, I am unwilling to continue my job at the bank further," he said.

However, sources said the board was not interested in renewing his contract.