Six major state-owned banks—Sonali, Janata, Agrani, Rupali, BASIC, and Bangladesh Development Bank (BDBL)—have been operating without managing directors (MDs) for nearly a month, creating a leadership vacuum in these key financial institutions. The Ministry of Finance sent a letter on September 19, officially canceling the contracts of the MDs for these banks. In response, the chairmen of the banks have urged Finance Adviser Dr. Salehuddin Ahmed to expedite the appointment of new MDs. Banks hit by liquidity crunch: Limited cash withdrawals spark nationwide frustration In a meeting on Monday, Sonali Bank Chairman Mohammad Muslim Chowdhury, Agrani Bank Chairman Syed Abu Nasser Bakhtiar Ahmed, and Rupali Bank Chairman Nazrul Huda met with the finance adviser to discuss the urgent need for leadership in the banks. They stressed the importance of filling the vacant MD positions as soon as possible. A chairman who attended the meeting confirmed that they had formally requested new MD appointments, and the finance adviser assured them that the matter would be reviewed. Finance Adviser urges banks to ensure rigorous loan scrutiny and inclusive lending Since the September 19 letter, the MDs have been officially removed from office, leaving the banks to operate without their top executives.

Basic Bank’s decision to change its existing salary structure for employees was stayed by the High Court (HC) for one month on Sunday.