The government has cancelled the remaining contractual terms of the managing directors (MDs) of three state-owned banks - Sonali, Janata and Rupali Bank. The Financial Institutions Division of the Finance Ministry informed the boards of directors of the banks concerned about the decision on Monday (October 19).
In a separate letter, the government's consent was conveyed to cancel the remaining contractual terms of Sonali Bank MD Shawkat Ali Khan, Janata Bank MD Mujibur Rahman, and Rupali Bank MD Kazi Md. Wahidul.
The letter has directed the boards of directors of the concerned banks to take further necessary steps as per the Banking Companies Act.
Earlier, in September, the government cancelled the remaining contractual terms of the MDs of Agrani Bank, Bangladesh Development Bank Limited (BDBL) and Basic Bank. With the latest decision of the three banks, the remaining contractual terms of the managing directors of a total of six state-owned banks have been cancelled.
In addition, 10 directors of state-owned banks have also been removed recently. Some of them were appointed for three-year terms during the interim government.
These changes at the top levels of state-owned banks may result in new decisions regarding the operation and management of the banks. However, detailed information about the next steps of the banks concerned needs to be confirmed separately, outside the content of the letter.
