The government has terminated the remaining terms of the contractual appointments of the managing directors and chief executive officers of three state-owned commercial banks – Sonali, Janata and Rupali.
The Financial Institutions Division (FID) of the Ministry of Finance issued separate letters on Monday, conveying the decision to the chairmen of the respective bank boards.
The three top officials affected by the government decision are Md Shawkat Ali Khan, MD and CEO of Sonali Bank PLC; Md Mazibur Rahman, MD and CEO of Janata Bank PLC; and Kazi Md Wahidul Islam, MD of Rupali Bank PLC.
According to the letter issued regarding Sonali Bank, the government has provided its recommendation and consent to cancel the remaining duration of Shawkat’s contractual service.
The bank’s Board of Directors has been requested to take necessary legal and administrative steps in line with the Bank Company Act and the terms of the employment contract.
Identical letters were dispatched regarding Mazibur and Wahidul, confirming government approval for the cancellation of their remaining contractual terms.
Following the government’s consent, the respective bank boards will now complete the requisite legal and operational formalities to execute the terminations in accordance with existing regulations and contract clauses.
