The government has revised its policy on appointing chief executives of state-owned commercial banks, allowing the experience requirement to be relaxed in exceptional cases.
The amendment, issued recently by the Financial Institutions Division (FID), applies to the appointment of managing directors (MDs) and CEOs at six banks: Sonali, Janata, Agrani, Rupali, BDBL and BASIC.
The change comes as the government has cancelled the remaining tenure of the contractual MDs and CEOs of three banks: Sonali, Janata and Rupali.
Under the earlier rule, a candidate had to be a serving or former bank officer with at least 20 years of experience.
An amendment in July this year added a requirement of at least two years of experience in the post immediately below that of MD or CEO.
Both requirements remain, but the new provision allows the two-year condition to be waived for candidates with special skills, professional qualifications, leadership ability and a good reputation.
The age range of 45 to 65 years, the three-year contract term and the nomination process remain unchanged.
The new policy repeals the July 2026 version, though actions taken under that version remain valid.
This is the third time in nine months that the government has changed the policy. The previous version was issued in January 2023.
Under the policy, the government nominates MDs rather than appointing them directly, and the board finalises the appointment after receiving a no-objection from Bangladesh Bank.
The government retains the power to appoint the heads of the six specialised banks, as well as the Bangladesh House Building Finance Corporation and the Investment Corporation of Bangladesh.
Under the revised policy, promotions will prioritise performance, leadership ability, service record and experience in key bank departments. Seniority alone, therefore, will not determine promotions.
The scoring tables for promotions to deputy MD and general manager positions remain unchanged.
Candidates must hold at least a master’s degree from a recognised university, with no third division or class at any stage of their education.
In addition to the selection committee’s recommendation, the candidate’s intelligence report and the Anti-Corruption Commission’s report will be reviewed.