The government has approved the appointment of executives from private banks as managing directors (MDs) of two state-owned banks, while also approving the appointment of a Janata Bank deputy managing director to head BASIC Bank.
 
In a letter dated 26 October, the Financial Institutions Division (FID) of the Ministry of Finance informed the Janata Bank Board of Directors that the government had approved the nomination of Md Mahbub Alam, additional MD and chief risk officer of Southeast Bank, as the state-owned bank's MD.
 
In a separate letter, the FID informed the chairman of Agrani Bank's board that the government had approved the nomination of Noor Mohammed, deputy MD of Jamuna Bank, as the state-owned bank's MD and directed the board to take the necessary steps.
 
The division also approved the appointment of Nurul Huda, deputy MD of Janata, as the MD of BASIC Bank, directing the bank's chairman to take the necessary steps.
 
According to the FID letters, all three executives are to be appointed on a contractual basis for three years.
 
Meanwhile, the division has withdrawn its order cancelling the remaining term of Sonali Bank Managing Director Md Shawkat Ali Khan's contractual appointment.
 
On 19 October, the division had written to the chairman of Sonali's board, directing the bank to take the necessary steps following the cancellation of the remaining term of Shawkat's contractual appointment.
 
On the same date, the division also cancelled the remaining contractual terms of the MDs of Janata Bank and Rupali Bank. Earlier, it had cancelled the remaining terms of the MDs of Agrani Bank and BASIC Bank.