The Chairman of the Interim Board of Homeland Life Insurance Company, Md Abdul Majid, has revoked the compulsory leave of two senior executives. The officials are Shahadat Hossain, Additional Managing Director and Acting Chief Executive Officer, and Zakir Hossain, Deputy Managing Director and Head of Marketing.
The interim board, constituted by the High Court, had initiated an investigation into alleged administrative and financial irregularities at the company in recent months. To ensure a fair and impartial inquiry, both executives were placed on compulsory leave on 18 October.
However, seven days later, on 25 October, Chairman Md Abdul Majid decided to withdraw their leave. In a letter, he noted that following a review of their application submitted on 23 October, and due to delays in the ongoing investigation, their compulsory leave has been temporarily lifted. Separate letters have been sent to both officials to inform them of this decision.