Nine banks to get new MDs soon

Anisul Islam Noor

16 August, 2019 12:00 AM printer

The nine state-owned and private banks will get new Managing Directors (MDs) soon as the posts have recently fallen vacant following the completion of the tenure of the outgoing ones.

The Ministry of Finance formed a search committee to prepare a panel for MDs of the state-owned commercial banks giving priority to clean image and expertise to reform the banks, sources said.  

Private commercial banks’ directors are working to appoint the new managing directors of their respective banks taking permission from the ministry and the central Bangladesh Bank.

Among the state-owned banks -Bangladesh Development Bank Limited (BDBL), Rajshahi Krishi Unnyan Bank and Ansar VDP bank are running without MDs as the posts of the managing directors fell vacant for over two months.   

The posts of MDs of other three state-owned banks-Sonali, Agrani and Rupali will be vacant this month as some of the MD’s tenures expired while some reached the age of 65 years.

Among the private banks—managing director of Jamuna Bank Shafiqul Alam will go on retirement in October next, Mutual Trust Bank’s managing director Anis A Khan in November and the three years contract tenure of NRB bank’s managing director Md Mehmud Hossain expired on July 29.

According to the bank company act, the move to appoint new MD has to start three months before the completion of their tenure.

Meanwhile, the ministry of finance has completed the interview of 14 deputy managing directors of different state-owned banks before the Eid vacation to make a panel for appointing MDs to tthe government commercial banks.

Senior Secretary (financial Institutions) of the finance ministry took the interview.

Earlier deputy secretary of the financial institution division issued a letter for taking the interview of 14 DMDs of the banks as per seniority. They are Md Yousuf Ali, Agrani Bank, Musaddek-ul-Alam, Investment Corporation of Bangladesh (ICB), Md Jahangir Alam and Md urshed Alam Khondkar of Rupali bank, Qamruzzaman Chowdhury, AKM Sajedur Rahman Khan and Md Ebnus Jahan of Sonali bank, Md Ziqrul Hoque, Janata Bank, Md Afjal Karim, Bangladesh Krishi Bank, Md Abdul Motin, BDBL, Md Tajul Islam Janata Bank, Belayet Hossain, Rupali Bank, Md Anisur Rahman, Agrani Bank and Md Mizanur Rahman, BDBL.

Shafiqul Alam was appointed as MD of Jamuna Bank Limited on January 29, 2013. His tenure will be ended on October with age limit is reached at 65 year.

Meanwhile, many candidates express their interest to hold the post of MD of Jamuna Bank as it is a third generation bank. Of them, Mirza Elias Uddin Ahmed is thought to be bagging the key post. Elias is serving now as an additional managing director of the bank.

Anis A Khan, who has been serving as an MD of Mutual Trust Bank for almost a decade.

He took over as the post of the country’s third generation private bank on April 27, 2009.

Under his leadership, Mutual Trust Bank has been able to stand on a strong financial base. But Anis A. Khan is retiring on November due to his age. For this, the appointment of new MD has started in the bank.

Talking to daily sun, Anis A Khan said the board of directors is working to appoint new MD. The matter has already been discussed in the board. Several names have also come up, and nothing has been finalized yet, he added.

On August 2016, the finance ministry appointed the state-owned Sonali, Agrani and Rupali banks managing directors together.

Obaidullah Al-Masood was appointed as MD for Sonali Bank, Shams-ul-Islam for Agrani Bank and Ataur Rahman for Rupali Bank. They were appointed for three years, and their tenure will expire this August.

According to the Bank Company Act, the maximum age limit for the post of MDs of the commercial bank is 65 years, but the finance ministry has been following the tradition for the state-owned bank where the maximum age limit for MDs is 62 years.