Contracts of Agrani, BDBL, BASIC Bank managing directors cancelled

The government has cancelled the contractual tenures of the managing directors (MDs) of three state-owned banks: Agrani Bank, Bangladesh Development Bank Limited (BDBL), and BASIC Bank.

Today, the Financial Institutions Division communicated the decision to the respective boards of directors.

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Separate letters confirmed that the government had approved the cancellation of the unexpired contractual terms of the managing directors of Agrani Bank, Md Anwarul Islam; BDBL, Md Jashim Uddin; and BASIC Bank, Md Kamruzzaman Khan.

The respective bank boards will now proceed with further steps in accordance with the Bank Company Act.

According to Financial Institutions Division sources, the process of filling the three posts has begun, and appointments are expected shortly.

In addition to terminating the three MDs' terms, the government recently removed 10 directors from state-owned banks.

Several of these directors were appointed for three-year tenures during the interim government, while others were government nominees whose terms had expired.

Fifteen new directors have been appointed in their place.