Demand for policy shift for top posts

Officials of state-owned Agrani, Janata and Sonali banks have demanded an amendment to the promotion and placement policy for the positions of general manager (GM) and deputy managing director (DMD).
In a letter to finance adviser Salehuddin Ahmed recently, the officials said the current policy led them to fall behind compared to those of Rupali Bank.
According to the letter signed by nearly 100 officials of the banks, junior officials from Rupali Bank are being placed in relatively higher positions at Sonali, Janata and Agrani banks for this flawed policy.
In 2007, it said, the commercial banks were changed into limited companies while keeping 100 per cent of the shares under government ownership.
The overall management of the banks, including operations, was bestowed on the respective boards of directors through vendor agreements and memorandums of understanding between the government and the banks.
In a 2013 circular, the Bangladesh Bank provided the recruitment, promotion and placement authority to respective state-owned commercial banks for DMDs and GMs as part of the policy.
In the mean time, a 2018 circular shifted the authority to the Ministry of Finance for recruitment, promotion and transfer of DMDs only.
Then in 2023, the authority for recruitment, promotion and transfer of GM positions was shifted to the Financial Institutions Division.
The letter further mentioned that a large batch of bankers began their career in state-owned and specialised banks in 1998 under the Bankers' Recruitment Committee of the Bangladesh Bank.
Based on merit, the officials were appointed to Sonali, Janata, Agrani and Rupali banks respectively.
However, no officials who joined Sonali, Janata and Agrani have had the opportunity to be promoted to GM.
On the other hand, Rupali officials have received rapid promotions, allowing them to occupy higher positions like GM, DMD and MD in other banks.
As a result, many officials of Rupali Bank are holding higher positions than those in Sonali, Janata and Agrani banks, thereby creating a disruptive work environment there.
The officials of the three other banks have, therefore, demanded a revision of the promotion and placement policy and a reinstatement of the previous policy immediately.
They also demanded retrospective promotions of those who joined in 1993, 1994, 1995, 1996, 1998 and 2000.

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