Pvt bankers to head Janata, Agrani

The government has, for the first time in Bangladesh, approved the appointment of executives from private banks as managing directors (MDs) of state-owned Janata Bank and Agrani Bank. It has also approved a Janata Bank deputy managing director (DMD) as the new MD of BASIC Bank.

According to letters issued by the Financial Institutions Division (FID) of the Ministry of Finance on 26 October, all three executives will be appointed on a contractual basis for three years.

Md Mahbub Alam, additional managing director and chief risk officer of Southeast Bank, has been nominated as the new MD of Janata Bank.

In a separate letter, the FID informed Agrani Bank's board chairman that Noor Mohammed, deputy managing director of Jamuna Bank, had been approved for the post of MD of Agrani Bank. The board has been asked to take the necessary steps to complete his appointment.

The government has also approved Nurul Huda, deputy managing director of Janata Bank, as the new MD of BASIC Bank. The bank's chairman has been directed to take the necessary steps for his appointment.

Meanwhile, the government has withdrawn its earlier decision to cancel the remaining term of Md Shawkat Ali Khan, Managing Director of Sonali Bank. His contractual appointment will therefore continue for the remaining period, according to the latest decision. 

On 19 October, the FID had asked Sonali Bank's board to take steps after cancelling the remaining term of Shawkat Ali Khan's contract.

On the same day, the division also cancelled the remaining contractual terms of the managing directors of Janata Bank and Rupali Bank. Earlier, it had cancelled the remaining terms of the MDs of Agrani Bank and BASIC Bank.