Govt cancels contractual appointments of Sonali, Janata, Rupali Bank MDs

 
The government has cancelled the contractual appointments of the managing directors (MD) of three state-owned banks: Sonali Bank, Janata Bank, and Rupali Bank.

The ministry recommended cancelling the remaining terms of Sonali Bank MD Shawkat Ali Khan, Rupali Bank MD Kazi Md Wahidul Islam, and Janata Bank MD and CEO Mazibur Rahman.

The Financial Institutions Division of the Ministry of Finance issued separate letters in this regard on Monday.

The letter has been sent to the chairmen of the three banks.

The letters state that further legal and regulatory procedures must be undertaken to cancel the remaining terms of their appointments in accordance with the Bank Company Act and the respective agreements signed with the banks’ boards of directors.

The chairmen of the boards of both banks have been requested to take the necessary measures in this regard.

However, the letters did not specify the reasons for the decisions or provide any information about the appointment of new managing directors to the two banks.

Shawkat joined Sonali Bank as the MD on 30 October 2024 for a three-year term. Before that, he served as the MD of Bangladesh Krishi Bank.

Wahidul was appointed as the MD of Rupali Bank on 25 December 2024 for a three-year term. Mazibur was made MD and CEO of Janata Bank on 11 November 2024.