Contractual appointments of MDs of three state-owned banks cancelled

The government has cancelled the remaining tenure of the contractual appointments of the managing directors (MDs) and chief executive officers (CEOs) of three state-owned banks. The three banks are Agrani Bank PLC, BASIC Bank PLC and Bangladesh Development Bank PLC (BDBL).

Separate three notifications in this regard were issued from the Financial Institutions Division of the Ministry of Finance on Wednesday (September 2). In the notifications signed by Deputy Secretary Afroza Akter Riba, the chairmen of the boards of directors of the three banks concerned have been directed to take necessary regulatory measures.

The officers whose contracts have been cancelled are Agrani Bank MD and CEO Md Anwarul Islam, BASIC Bank MD and CEO Md Kamruzzaman Khan and BDBL MD and CEO Md Jasim Uddin.

The notifications said the government has given recommendation and consent regarding the cancellation of the remaining tenure of the contractual appointments of these officers in accordance with the Bank Company Act and the terms of the agreements executed with the boards of directors of the concerned banks.

On this basis, the boards of directors of the three banks have been asked to complete the necessary legal and regulatory activities regarding the cancellation of the contractual appointments of the concerned MDs and CEOs.

As a result of this decision of the government, the remaining period of the contractual responsibilities of the current MDs and CEOs of Agrani Bank, BASIC Bank and BDBL will no longer remain in force.