The government has canceled the remaining terms of the contractual appointments of managing directors at three state-owned banks: Agrani Bank, BASIC Bank and Bangladesh Development Bank. In three separate letters issued Wednesday by the Financial Institutions Division of the Ministry of Finance, the banks’ boards of directors were instructed to take the necessary follow-up regulatory action.
According to the notification, signed by Deputy Secretary Afroza Akter Riba, the government has recommended and consented to canceling the remaining terms of the contractual appointments agreed between the banks’ boards of directors and Agrani Bank Managing Director and CEO Md Anwarul Islam, Bangladesh Development Bank’s Jashim Uddin, and BASIC Bank’s Kamruzzaman Khan.
The notification further said that, in line with the Bank Company Act and the terms of the contract signed with the board of directors, Agrani Bank’s board chairman has been instructed to take the necessary subsequent regulatory steps to cancel the remaining term of Anwarul Islam’s contractual appointment.