The government has cancelled the contractual appointments of the managing directors (MD) of three state-owned banks: Sonali Bank, Janata Bank, and Rupali Bank.
The decision was communicated in a letter, signed by Afroza Akter Riba, deputy secretary of the Financial Institutions Division under the Ministry of Finance, issued on Monday.
The letter was sent to the chairmen of the three banks.
The ministry recommended cancelling the remaining terms of Sonali Bank MD Shawkat Ali Khan, Rupali Bank MD Kazi Md Wahidul Islam, and Janata Bank MD and CEO Mazibur Rahman.
Shawkat joined Sonali Bank as the MD on 30 October 2024 for a three-year term. Before that, he served as the MD of Bangladesh Krishi Bank.
Wahidul was appointed as the MD of Rupali Bank on 25 December 2024 for a three-year term. Mazibur was made MD and CEO of Janata Bank on 11 November 2024.
Following the cancellation of their remaining contractual terms, the boards of the respective banks will have to take further steps in accordance with the applicable rules.