Dhaka, March 13 -- The central bank has dissolved the boards of three private commercial banks (PCBs) mainly due to their ineffectiveness, a spokesperson for the Bangladesh Bank (BB) said on Thursday.

"Actually, the boards were ineffective as they were unable to make timely decisions because the chairmen were mostly staying abroad," Mohammad Shahriar Siddiqui, an assistant spokesperson of the central bank told the Financial Express (FE) while replying to a query.

Additionally, some of the chairmen faced travel bans and cases filed by the Anti-Corruption Commission (ACC), he added.

Regarding financial health of the reconstituted Meghna Bank, NRB Commercial Bank and NRB Bank, Mr. Siddiqui said the banks are good as "there is no problem w...