Published : 27 October 2026
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Updated : 26 October 2026, 23:22
Star Business Report
The government has appointed private-sector executives to lead Janata and Agrani banks for the first time in 20 years, following a recent relaxation of eligibility criteria for chief executives of state-owned lenders.
In four separate letters issued yesterday, the Financial Institutions Division (FID) of the Ministry of Finance appointed managing directors (MDs) to Agrani, Janata and BASIC banks and reinstated the incumbent head of Sonali Bank.
Md Mahbub Alam, former additional managing director of Southeast Bank, has been appointed MD of Janata Bank, while Noor Mohammed, former deputy managing director of Jamuna Bank, will lead Agrani Bank.
Before them, Syed Abu Naser Bukhtear Ahmed, a former MD of Janata Bank, was the last private-sector executive appointed to lead a state-owned bank, in 2004, during the previous term of the BNP-led government.
Before them, Syed Abu Naser Bukhtear Ahmed, a former MD of Janata Bank, was the last private-sector executive appointed to lead a state-owned bank, in 2004
The FID has also appointed Md Nurul Huda, a former deputy managing director of Janata Bank, as MD of BASIC Bank.
Meanwhile, Shawkat Ali Khan has been reinstated as MD of Sonali Bank after the government reversed its earlier decision to cancel his appointment. He will complete his existing three-year tenure, which expires in October 2027.
The three other appointees will serve three-year terms on a contractual basis.
The appointments follow a broader reshuffle at state-owned banks. Last week, the government decided to terminate the remaining tenures of the contractual MDs and chief executive officers of Sonali, Janata and Rupali banks.
The appointments of the heads of Agrani Bank, Bangladesh Development Bank Limited (BDBL) and BASIC Bank had also been cancelled last month.
Following the cancellations, the government revised the eligibility policy on October 19 for appointing MDs and CEOs at six state-owned commercial banks: Sonali, Janata, Agrani, Rupali, BDBL and BASIC.
Under the revised policy, candidates must have at least 20 years of experience in banks or financial institutions.
However, the requirement for two years of experience in the position immediately below that of MD or CEO may be waived for candidates with special skills, professional qualifications, leadership ability and a good reputation.