Bar for secretary of equivalent ranks to be a director of state-owned banks

Staff Reporter :
Any Secretary of the government or officers of equivalent ranks is not allowed for the post of director at any state-owned banks from now on.
In a guideline issued by Financial Division of Finance Ministry on Thursday said, “Any incumbent Secretary of the government or official of equivalent grade shall not be allowed for the post of chairman or director unless it is specified in any law/ordinance/order/ guidelines in effect for the time being.”
The guideline also mentioned some directions about the incumbent Chairman and Directors already engaged in different state owned banks.
“The incumbent Chairman/Directors will continue their jobs for the

remaining tenure in such a way that it would seem that they are performing their duties following the guideline,” it added.
The ministry has issued the fresh guideline in a bid to ensure good governance in state-owned commercial banks, specialised banks, financial institutions and managing business activities smoothly in the country.
Apart from this, Prime Minister’s approval will have to be taken in appointing and reappointing Chairman in all state-owned banks and financial institutions.
In case of the Director, permission will have to be taken from the Finance Minister, the guideline added.
The guideline has mentioned the formation of a Committee comprising of five members in order to appoint Chairman and Directors of the banks. Financial Institution Division will form the Committee, headed by its Secretary.
The Member-Secretary of the Committee will be the Deputy Secretary of the same division.
The other members of the committee will be an Additional Secretary or Joint Secretary, a Joint Secretary of Finance Division and an Executive Director of Bangladesh Bank.