Bangladesh Bank has tightened the criteria for appointment to the post of managing director (MD) or chief executive officer (CEO) of a bank.
According to the new guidelines, from now on, to become an MD, the person concerned must have at least 25 years of experience in the banking profession.
The central bank gave this instruction in a circular sent to all banks in the country on Wednesday.
It also said that there must be a minimum of 3 years of experience in the post of deputy managing director (DMD) or additional managing director (AMD) individually or in combination.
Earlier, this period was 2 years.
After August 5, the condition of 20 years of experience was introduced for appointment to the post of MD.
Earlier, during the Awami League government, the minimum experience limit was 15 years.
In the new policy, it has been further tightened and increased to 25 years.
The circular also says that the first class (or equivalent) officials of the banking and financial sector regulatory agencies who will be considered for becoming MDs must also have a minimum of 25 years of experience.
In addition, they must have experience in performing duties as an officer in Grade 2 of the National Pay Scale.
Bangladesh Bank said that this new provision has been implemented to ensure professional, skilled and experienced leadership in the banking sector.
The central bank further said that this will help the sector run more orderly and responsibly.
