Photo: Collected
From now on it will be possible to become managing director (MD) of six state-owned commercial banks even without two years’ work experience in the post of deputy managing director (DMD). The government has introduced this relaxation in the qualifications for appointment to the top post at these banks. The other qualifying conditions, however, including 20 years’ work experience at a bank or financial institution, remain in force as before.
The six banks coming under this are Sonali, Janata, Agrani, Rupali, Basic and Bangladesh Development Bank PLC (BDBL).
The Financial Institutions Division of the Ministry of Finance issued a gazette notification last Monday amending the relevant appointment policy.
With this, the same policy has been changed three times in the past nine months. Amendments had previously been brought on 18 January and 26 July. The original policy was issued in January 2023.
The new notification has been issued by amending the ‘Policy on nomination, appointment, promotion and posting to the posts of managing director, deputy managing director and general manager of state-owned commercial banks, specialised banks and financial institutions’ issued on 26 July.
The amended policy retains the condition of at least 20 years’ experience at a bank or financial institution for appointment to the post of MD. Along with this, a candidate must have at least a master’s degree from a recognised university, and a third division or class at any stage of their education will not be acceptable. A candidate’s professional competence, leadership capacity, service record and experience of working in important departments of a bank will also come under assessment. There is also a provision for reviewing a candidate’s intelligence report and the report of the Anti-Corruption Commission (ACC), alongside the recommendation of the selection committee, before appointment.
The appointment process has changed as well. The government will now nominate candidates rather than appoint them directly, and the board of directors of the bank concerned will finalise the appointment after obtaining a no-objection from Bangladesh Bank. The power to appoint the MDs of six specialised banks, the Bangladesh House Building Finance Corporation (BHBFC) and the Investment Corporation of Bangladesh (ICB), however, remains in the government’s hands.
Those connected with the sector believe the amendment will widen the scope for appointment to the post of MD at state-owned banks. In their view, the experience condition has been relaxed in order to create the opportunity to install favoured individuals in that post. They claim that people who previously could not be appointed, because two years’ experience as DMD was mandatory, may get the opportunity under the amended policy. The government, however, has not explained the reason for amending the policy.
Background
Another major decision on the top posts of state-owned banks came on the very day the notification was issued. According to a Manabzamin report, three separate notifications of the Financial Institutions Division on 19 October 2026 cancelled the remaining terms of the contractual appointments of the MD-CEOs of Sonali, Janata and Rupali banks.
According to the same report, those three officials are Md Shawkat Ali Khan of Sonali Bank, Md Mojibor Rahman of Janata Bank and Kazi Md Wahidul Islam of Rupali Bank; the reason for the cancellation was not mentioned in the notifications, but the boards of the banks were asked to take further steps in accordance with the terms of the contracts and the applicable law.
The numbers
Although Monday’s notification of the Financial Institutions Division dropped the condition of two years’ experience as DMD, the condition of 20 years’ experience at a bank or financial institution has been retained — Prothom Alo reported this on 20 October 2026.
Sources
Background sources: Manabzamin, 19 October 2026; Prothom Alo, 20 October 2026,
