Premier Bank Dismisses CEO Following Central Bank Approval

The Board of Directors of Premier Bank has officially terminated the contract of its Managing Director and Chief Executive Officer, Md Abu Jafar. The move, which became effective on Tuesday, 3 February 2026, follows a period of protracted uncertainty regarding the bank’s executive leadership and received the necessary regulatory clearance from Bangladesh Bank.

A Decisive Board Mandate

The groundwork for this dismissal was laid during the bank’s 332nd board meeting, convened on 17 December 2025. While the resolution to remove Mr Jafar was passed late last year, the bank was required to wait for formal consent from the central regulator before the termination could be finalised.

Premier Bank Chairman, Arifur Rahman, confirmed the development, stating that the board’s resolution has been fully implemented in strict accordance with the approval granted by Bangladesh Bank. The transition marks a swift end to a tenure that lasted less than two years.

A Period of Prolonged Absence

Speculation regarding Mr Jafar’s future had been rife since late 2024. The outgoing CEO had been on an extended period of leave starting 20 November 2025, lasting nearly two months. At the time of his departure, Chairman Rahman had informed the press that the leave was intended to last for “a couple of months,” though he notably declined to confirm whether Mr Jafar would resume his duties upon his return.

Career Profile and Tenure

Md Abu Jafar is a seasoned veteran of the Bangladeshi financial sector, with a career spanning over three decades. An alumnus of the University of Chittagong, where he earned both his undergraduate and postgraduate degrees in Economics, he entered the industry in 1990 as a probationary officer at Uttara Bank.

Before his ill-fated appointment at Premier Bank in April 2024, he held the position of Additional Managing Director at Dhaka Bank. His swift exit from Premier Bank highlights the increasing pressure on executive leadership within the nation’s private banking sector.

Executive Transition Summary: Md Abu Jafar

The bank has yet to name a permanent successor, though an acting head is expected to manage operations while the board conducts a search for a new Chief Executive to navigate the current economic landscape.