Nine DMDs on govt list to replace their MDs

The government formed Sunday a nine-member panel of deputy managing directors to be appointed managing directors of different state-owned banks and financial institutions, sources said.

A meeting chaired by finance minister AMA Muhith at his secretariat office handpicked the DMDs into the panel dropping two names from a draft list.

"We have dropped two names from the draft list after scrutinising their performance and previous records," a top official of the ministry of finance told the FE, wishing not to be quoted by name.

He said the two deputy managing directors were allegedly involved in loan scams, and one of them was in jail in a case filed by the Anti-Corruption Commission. So, their names were dropped.

In the future these deputy managing directors will be appointed MDs (managing directors) when the top executive post of the banks and FIs falls vacant.  

The step is seen as a likely prelude to top-level changes in the public-sector banks and financial institutions.      

Central bank governor Fazle Kabir, finance division secretary Hedayetullah Al Mamoon, and financial institutions division secretary Eunusur Rahman were among others present at the meeting.