Govt cancels contracts of 6 banks` MDs

The interim government has instructed six state-owned commercial banks to terminate the contracts of their managing directors and chief executive officers.

The Financial Institutions Division (FID) of the finance ministry has issued this directive to the chairpersons of Sonali Bank, Janata Bank, Rupali Bank, Agrani Bank, Bangladesh Development Bank, and BASIC Bank.

In separate letters sent to the chairpersons of the banks, the Financial Institutions Division directed the banks to take regulatory actions concerning the cancellation of the contracts in accordance with the Bank Company Act.