BB forms a committee to appoint qualified MDs, CEOs of banks

Dhaka, Mar 3 - Bangladesh Bank (BB) has formed a committee on appointment and reappointment to the post of Managing Director or Chief Executive Officer of banks, in consideration of good governance in the banking operation.

The Banking Regulations and Policy Department (BRPD) of BB on Sunday issued a circular in this regard and sent it to the chairman and the board of directors of all scheduled banks other than specialized banks, for immediate execution.

The circular stated that the BB has the power to approve an appointment or re-appointment to the post of Managing Director (MD) and Chief Executive Officer (CEO) of banks.

The initiatives have been taken to ensure more good governance in bank management and protect the interests of depositors, bring back credit discipline by removing existing barriers, said the purpose of the circular.

To verify his/her qualifications, suitability, commitment to responsibility, experience, age, and leadership qualities, the central bank formed a committee consisting of four members for the purpose of interviewing.

The committee members are the Chairman-Deputy Governor (in charge of BRPD, member-Executive Director (In charge of BRPD, Executive Director (Department in Charge of Offsite Supervision), Director (BRPD, Division-II) Member, and Member Secretary.-UNB