Govt completes corporatisation of Sonali, Janata Agrani this week
Monday, 27 August 2007
The government has finalised the draft for "vendor agreement" completing the process of corporatisation of state-run Sonali, Janata and Agrani banks, reports UNB.
A meeting of the Banking Division of the Ministry of Finance finalised the draft Sunday with Finance Secretary Mohammad Tareque in the chair.
"The vendor agreements (a documentary process to hand over the banks to respective board of directors) is likely to be signed within this week," said an official who attended the meeting.
Senior officials and managing directors of the concerned banks were present at the meeting held at the Ministry.
To complete the process, the Finance Secretary or his nominee and the chairmen of the respective banks will sign the agreements.
As per the draft, the government will retain 100 per cent ownership of the banks and the respective bank boards will run the banks on their own decision.
Meanwhile, the government has already appointed the Board of Directors of the three banks.
Earlier, the banks were listed with the Joint Stock Companies and Firms and they obtained necessary permission from the Bangladesh Bank to operate as listed companies.
A meeting of the Banking Division of the Ministry of Finance finalised the draft Sunday with Finance Secretary Mohammad Tareque in the chair.
"The vendor agreements (a documentary process to hand over the banks to respective board of directors) is likely to be signed within this week," said an official who attended the meeting.
Senior officials and managing directors of the concerned banks were present at the meeting held at the Ministry.
To complete the process, the Finance Secretary or his nominee and the chairmen of the respective banks will sign the agreements.
As per the draft, the government will retain 100 per cent ownership of the banks and the respective bank boards will run the banks on their own decision.
Meanwhile, the government has already appointed the Board of Directors of the three banks.
Earlier, the banks were listed with the Joint Stock Companies and Firms and they obtained necessary permission from the Bangladesh Bank to operate as listed companies.