Order Cancelling Sonali Bank MD Shawkat Ali Khan's Contract Withdrawn Within Seven Days; New MDs at Three More State Banks
The government has withdrawn its order cancelling the remaining contract term of Md Shawkat Ali Khan, managing director of state-owned Sonali Bank. The earlier order was withdrawn just seven days after the cancellation decision was taken.
The information was announced on Monday (26 October) in a notification issued by the Financial Institutions Division of the Ministry of Finance.
Earlier, on 19 October, the Financial Institutions Division had decided to cancel the remaining contract term of Sonali Bank managing director Md Shawkat Ali Khan. Within seven days, however, the division reversed that decision and withdrew the earlier order.
On the same day, through separate notifications, the government appointed new managing directors at three more state-owned banks: Agrani, Janata and BASIC Bank.
According to the notifications, Md Mahbub Alam has been appointed managing director of Janata Bank, Md Nurul Huda managing director of BASIC Bank, and Nur Mohammad managing director of Agrani Bank. Each of them has been appointed for a three-year term.
Among the new appointees, Md Mahbub Alam previously served as additional managing director and chief risk officer of Southeast Bank PLC. Md Nurul Huda is currently a deputy managing director of Janata Bank, and Nur Mohammad is a deputy managing director of Jamuna Bank.
The Financial Institutions Division notification said the concerned authorities have been requested, as instructed, to take the necessary subsequent steps regarding the appointees under the Bank Company Act, 1991.
The decisions come as part of a continuing series of changes at the top management of state-owned banks. The Financial Institutions Division of the Ministry of Finance has previously taken several decisions on appointments to, and cancellation of contracts for, managing director posts at government banks.
