Govt cancels MDs’ appointments at Agrani, BASIC, BDBL

The government has cancelled the remaining terms of the contractual appointments of the managing directors and CEOs of three state-owned banks.

The affected officials are Md Anwarul Islam of Agrani Bank, Md Jasim Uddin of Bangladesh Development Bank and Md Kamruzzaman Khan of BASIC Bank.

The Financial Institutions Division of the Finance Ministry issued a notification on Wednesday approving the cancellation of their remaining contractual terms.

According to the notification signed by Deputy Secretary Afroza Akter Riba, the government recommended and consented to cancelling the remaining terms of the contractual appointments made by the respective bank boards.

The notification said Anwarul Islam’s remaining contractual term was cancelled in accordance with the Bank Company Act and the terms of his agreement with Agrani Bank’s board.

The respective bank boards will now complete the necessary procedures to cancel the appointments in accordance with the agreements and relevant laws.

There have been allegations that some contractual appointments to senior positions at state-owned banks during the previous government were influenced by political considerations and the interests of particular groups.

State-owned banks, including BASIC Bank, Agrani Bank and BDBL, have also been grappling with high levels of non-performing loans and capital constraints.