{The Managing Director of Rwanda\u2019s I&M Bank, Mr. Sanjeev Anand ,has resigned; KT Press has reported on Thursday.}<\/p>\n
Sanjeev has been heading the Bank\u2019s 15-member top management team responsible for operations of the bank.<\/p>\n
The resignation places the bank in a crisis mode as the search for a new managing director kicks off.<\/p>\n
A source at the bank that preferred anonymity told KT Press, \u201cYes. Sanjeev has resigned.\u201d However, the source did not divulge extra details on what could have caused his impromptu resignation.<\/p>\n
KT Press also learnt that Sanjeev, who was in office today, has given the bank almost 30 days to find a replacement. He has been serving as the Chairman of Rwanda Leasing Association and Deputy Chairman of Rwanda Bankers Association.<\/p>\n
He holds a degree in commerce and is a Chartered Accountant from the Institute of Chartered Accountants of India.<\/p>\n
The bank was established in 2004 after the privatization of Commercial Bank of Rwanda (BCR).<\/p>\n
Actis Capital owned 80% and Rwandan government owned 20% shares of the financial institution.<\/p>\n
However, in 2012, Actis collectively sold off its shares to I&M Bank Group from Kenya, PROPARCO from France, and the German Investment Corporation while government of Rwandan retained its stake in the bank.<\/p>\n
Meanwhile, Rwanda announced earlier in April 2015 that it will this year sell off its shares in the bank which has 17 branches across the country.<\/p>\n
Sanjeev\u2019s resignation comes at a time; Rwanda\u2019s financial sector is facing currency value troubles with the dollar pressing harder against the Rwanda Franc at an average Rwf760.<\/p>\n
{{Source: KT Press}}<\/p>\n","protected":false},"excerpt":{"rendered":"
{The Managing Director of Rwanda\u2019s I&M Bank, Mr. Sanjeev Anand ,has resigned; KT Press has reported on Thursday.} Sanjeev has been heading the Bank\u2019s 15-member top management team responsible for operations of the bank. The resignation places the bank in a crisis mode as the search for a new managing director kicks off. A source […]<\/p>\n","protected":false},"author":3,"featured_media":2000069247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-20210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000069247,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20210.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20210.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20210.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20210.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20210.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton20210.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/20210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=20210"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/20210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000069247"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=20210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=20210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=20210"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=20210"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=20210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}