Sunday, 5th April 2026
Khabor Wala Desk
Published: 19th January 2026, 11:09 PM
The Financial Institutions Division of the Ministry of Finance has officially promulgated a comprehensive new policy governing the appointment, promotion, and posting of top-tier executives across fourteen major state-owned entities. This directive, issued on Sunday, 18 January 2026, supersedes the previous regulations from 2023, signalling a robust shift towards meritocracy and transparency in the nation’s financial leadership.
The policy applies to a significant portion of the country’s financial architecture, including six state-owned commercial banks—most notably Sonali Bank and Agrani Bank—six specialised banks such as Bangladesh Krishi Bank (BKB) and Rajshahi Krishi Unnayan Bank (RAKUB), and two key financial institutions: the Bangladesh House Building Finance Corporation (BHBFC) and the Investment Corporation of Bangladesh (ICB).
The regulations specifically target the three highest echelons of management: Managing Directors (MD), Deputy Managing Directors (DMD), and General Managers (GM).
| Position | Appointment Method | Minimum Experience Required |
|---|---|---|
| Managing Director (MD) | Contractual (Max 3 Years) | Significant seniority; Master’s degree (No 3rd Divisions) |
| Deputy Managing Director | Promotion / Transfer | 19 years (Grade 9) or specialized years based on entry rank |
| General Manager (GM) | Promotion / Transfer | 18 years total, including 3 years as a DGM |
For the role of Managing Director, candidates must hold a Master’s degree from a recognised university. Preference is given to those with advanced professional qualifications in Economics, Accounting, Finance, Banking, Management, or Business Administration. A critical “clean slate” policy is in effect: candidates with a third division at any level of their academic career are strictly ineligible.
Beyond academia, the selection process places a heavy premium on character. Every candidate must possess an unblemished reputation for honesty. This will be verified through rigorous background checks involving reports from intelligence agencies and the Anti-Corruption Commission (ACC). Final approval for these high-stakes roles rests with the Prime Minister or the Chief Adviser, following recommendations from a high-powered selection committee.
The selection committee—comprising the Finance Minister (or Adviser), the Principal Secretary, the Governor of Bangladesh Bank, and relevant secretaries—will assess candidates using a 100-point scoring system. This evaluation considers:
Academic records and banking professional examinations.
Annual Confidential Reports (ACR) and overall service history.
Performance in a formal interview to determine merit and leadership suitability.
The policy outlines specific “time-in-grade” requirements for internal promotions. To become a DMD, an officer typically needs 19 years of service in Grade 9. However, for those recruited directly into higher entry ranks, the requirements are slightly adjusted:
Principal Officers: 17 years for DMD / 15 years for GM.
Senior Principal Officers: 14 years for DMD / 12 years for GM.
Assistant General Managers (AGM): 11 years for DMD / 9 years for GM.
Deputy General Managers (DGM): 8 years for DMD / 6 years for GM.
Executives will receive salaries and allowances as per the National Pay Scale, with contractual MDs following their specific terms. Benefits include housing, transport, pension, and performance bonuses. Conversely, those facing departmental inquiries or major disciplinary penalties will be barred from promotion. Resignations require one month’s notice, while retirement and dismissals will be governed strictly by the Public Service Act, 2018.
Comments