Contractual appointments of MDs of three state-owned banks cancelled

The government has cancelled the contractual appointments of the managing directors (MDs) of three state-owned banks—Sonali Bank PLC, Janata Bank PLC and Rupali Bank PLC.

The decision was communicated through a letter issued on Sunday by the Financial Institutions Division under the Ministry of Finance.

The three officials are Md Shawkat Ali Khan of Sonali Bank, Kazi Md Wahidul Islam of Rupali Bank and Md Mazibur Rahman, managing director and chief executive officer of Janata Bank.

Shawkat Ali Khan was appointed managing director of Sonali Bank on 30 October 2024 for a three-year term. Before joining Sonali Bank, he served as managing director of Bangladesh Krishi Bank.

Wahidul Islam took charge as managing director of Rupali Bank on 25 December 2024, also for a three-year term.

Mazibur Rahman was appointed managing director and CEO of Janata Bank on 11 November 2024.

Following the cancellation of their remaining contractual terms, the boards of the respective banks will take further action in accordance with the applicable rules and regulations.