Government names new managing directors for three state-owned banks

The government has named new managing directors for state-owned Janata, Agrani and BASIC banks, approving three-year contractual appointments for the three executives.

Noor Mohammed, currently deputy managing director of private Jamuna Bank, will head Agrani Bank.

Md Mahbub Alam, additional managing director and chief risk officer of Southeast Bank, has been selected to lead Janata Bank.

Md Nurul Huda, deputy managing director of Janata Bank, will take charge of BASIC Bank.

The finance ministry’s Financial Institutions Division approved the appointments for three years.

Letters were sent to the banks’ boards on Monday to complete the formalities under the Bank Company Act.

Agrani Bank Chairman Syed Abu Naser Bukhtear Ahmed confirmed receiving the appointment letter for Noor, telling bdnews24.com: “We have received the letter appointing Noor Mohammad as the new MD.”

The government nominates candidates for managing director posts at state-owned commercial banks.

After Bangladesh Bank issues its no-objection, the respective board completes the final appointment process.

On Oct 19, before the Durga Puja holidays, the government cancelled the remaining contractual terms of managing directors at four state-owned banks, including the three now receiving new chiefs.