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Contractual Appointments of Janata, Rupali Bank MDs Canceled
Photo: collected
The government has decided to cancel the remaining term of contractual appointments for the Managing Directors (MDs) and Chief Executive Officers (CEOs) of state-owned Janata Bank PLC and Rupali Bank PLC.
Official recommendations and concurrence have already been issued in this regard.
Letters to this effect were dispatched to the Chairmen of the Board of Directors of both banks on Monday (October 19) from the State-Owned Commercial Bank-1 branch of the Financial Institutions Division under the Ministry of Finance.
Signed by Deputy Secretary Afroza Akhtar Riba, the letters stated that the government has conveyed its recommendation and consent to cancel the unexpired tenure of the contractual appointments executed by the boards with Janata Bank PLC Managing Director Md. Mazibur Rahman and Rupali Bank PLC Managing Director Kazi Md. Wahidul Islam.
Under these circumstances, the board chairs were requested to take necessary legal and regulatory actions to terminate the remaining terms of Md. Mazibur Rahman and Kazi Md.
Wahidul Islam in accordance with the Bank Company Act and the terms of their respective contract agreements.