Four banks are in the process of appointing new MDs. Padma Bank is empty due to resignation.

Managing Director (MD) Tarek Riaz Khan of Padma Bank, which is going to merge with private Exim Bank, has resigned. NRB Bank, formed by expatriates, has already decided to appoint him as MD. On the other hand, MD sent on leave from Standard Bank. Habibur Rahman could not return to work yet. Besides, Meghna Bank got a new face as MD. Apart from this, Bangladesh Bank is working on the appointment of MD of Premier, NCC and Basic Bank. This information is known from Central Bank sources.

It is known that Padma Bank, which is in crisis, is being merged with Exim Bank. The board of directors of both the banks have also taken a decision in this regard. Bangladesh Bank has appointed auditors to audit these two banks. Meanwhile, Padma Bank MD Tarek Riaz Khan has resigned. He is going to NRB Bank. He will join as MD of NRB Bank after approval from central bank. Mamun Mahmood Shah resigned from the post of MD of NRB Bank last February, since then the bank is running with acting MD.

Tarek Riaz Khan told Prothom Alo about the reason for his resignation, "Since Padma Bank is going to be merged, I have resigned. I am looking at whether it is possible to go to a new bank.

Meanwhile, on February 1, 2021, he joined as the MD of Standard Bank, which was transformed into Sharia Bank. Habibur Rahman. He was sent on a three-month leave on February 29 before the end of his term. He was sent on leave due to a conflict with an influential director on the bank's board. When the matter came to the notice of Bangladesh Bank, the central bank started inspecting it. Also discussed with the bank in this regard. However, no decision has been taken yet regarding the reinstatement of MDK.

An official of Bangladesh Bank told Prothom Alo on the condition of anonymity that the MD will have to join the work if no fault is found during the inspection. A decision will be taken soon. Now there is no opportunity to drop MDs from time to time as before.

Meanwhile, Kazi Ahsan Khalil has joined as MD of Meghna Bank. Earlier he was DMD of NRB Bank. Anisur Rahman has been appointed as the MD of the state-owned Basic Bank again for one year. Premier Bank has decided to appoint Additional MD Mohammad Abu Zafar as MD. Before that he was in Dhaka Bank. NCC Bank has decided to appoint M Shamsul Arefin as MD. These applications are now awaiting approval from the central bank.

Now in order to get appointment or re-appointment as MD, the concerned person has to give an oral test before the Central Bank Committee. After that, his appointment and tenure are decided. Contract tenure of all bank MDs is maximum three years for each tenure. Earlier there was a provision of appointment of MD for a term of five years or more. Besides providing protection to MDs, Bangladesh Bank has specified their responsibilities and privileges in the policies related to appointment and responsibility of MDs of the bank.

According to the policy, the MD of a bank cannot resign suddenly at will. Bank authorities also cannot remove any MD from time to time. In other words, if any MD is to leave the bank before the end of the term, he has to give an explanation to the concerned committee of Bangladesh Bank. The decision of that committee will be final.