The government has re-appointed Syed Abdul Hamid as Managing Director and Chief Executive Officer of Agrani Bank Ltd for another year in defiance of the existing law.
However, the Ministry of Finance (MoF) officials have said the re-appointment has been made in accordance with the Banking Companies Act.
The Bank and Financial Institutions Division (BFID) under the MoF issued Thursday a notification in this connection, a senior official of the ministry said.
"The re-appointment doesn't require prior permission from the Bangladesh Bank (BB)," Gokul Chand Das, Additional Secretary of the BFID, told the FE.
According to Section 15 (4) of Banking Companies Act-1991 (amended up to 2013), except for specialised banks, all other banks must get prior approval from the central bank for appointing any of their directors and managing directors.
BB officials said re-appointment means a fresh appointment so that all the related procedures have to be complied accordingly.
"So, such an appointment is a violation of law," a senior BB official said, adding that similar provisions have already been applied for re-appointment of the Sonali Bank Ltd MD.
He also said the board of directors of Agrani Bank Ltd had sought approval for re-appointment of the bank's MD and CEO, but the BB kept mum about this due to alleged irregularities against him.
"We've sent a report of the Agrani Bank board on its MD and CEO to the MoF, seeking opinions in this connection," the central banker noted.
Earlier Mr. Hamid was made MD and CEO of the bank for a three-year term, an Agrani Bank Ltd statement said. He also served as MD (Additional Charge) and DMD of the same bank.
Mr. Hamid started his banking career with Janata Bank as Senior Principal Officer in 1985. He joined Agrani Bank as General Manager in 2005 where he was promoted to Deputy Managing Director in 2007.
siddique.islam@gmail.com
Hamid re-appointed Agrani Bank MD
FE Report | Published: July 10, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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