The government has stopped making political appointments to the Board of Directors of state-owned banks following recent scams.
Now, only bureaucrats and professional bankers are being chosen for such posts.
Three board members of Sonali Bank, the largest bank in the country, were reappointed in the past three weeks for another three years. All are former bureaucrats.
The current chairmen of Sonali, Janata and Rupali banks, too, are former public servants.
Agrani Bank is being led by an economist and BASIC Bank by a career banker.
Almost all the directors of these five banks are either bureaucrats — retired or sitting — or banking professionals.
When asked, Finance Minister Abul Maal Abdul Muhith told bdnews24.com: “We find our decision to appoint political people [as directors] in the banks has failed. So, experienced people are now being appointed.”
A recovery from the harm done by loan scams in Sonali and BASIC banks is a daunting task, he said.
“Sonali Bank has suffered a massive robbery (financial irregularities) and fraud. Attempts were made to loot the BASIC Bank. It will take time to recover from their effects.”
After assuming power, the Awami League-led government appointed 70 people to the Board of Directors of the banks in two phases in 2009 and 2012.
Most of them were linked to the party in some way.
With lessons learnt, the government has now made the right move, feels AM Mirza Azizul Islam, former finance adviser to a caretaker government.
“But assigning bureaucrats and bankers to the boards is not enough. It has to be ensured they work properly … and that there is no political interference.”
Source: bdnews24