Dhaka, May 18 -- Md. Safayet Alam has no legal right to serve as the CEO of mobile financial service provider Nagad Limited, and his appointment is considered fraudulent, according to Bangladesh Bank Governor Ahsan H. Mansur.

The governor made the statement to reporters following an inter-ministerial meeting on Nagad's management held on Sunday, according to local media.

The meeting was attended by Finance Adviser Salehuddin Ahmed, Special Assistant to the Chief Adviser on Posts, Telecommunications and ICT Fayez Ahmad Tayyab, Attorney General Md. Asaduzzaman, and other senior officials from relevant sectors.

Sources from the meeting said discussions focused on finding a swift resolution to the ongoing issues surrounding Nagad, triggere...