Govt to reshuffle boards of state-owned banks

The government would soon reshuffle the board of directors of state-owned commercial and specialised banks, Finance Minister AMA Muhith said on Saturday. Of the eight state-owned banks, Sonali Bank, Agrani Bank, Janata Bank and Rupali Bank are commercial banks and the rest four are specialised public banks. These are: BASIC Bank, Bangladesh Development Bank, Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank. The minister did not specify whether all the eight state- owned banks would see new board of directors soon. He said this new government reelected through the January 5 election would reorganise the board of directors of the state-owned banks to streamline the activities of public banks and establish more discipline and transparency in the banking sector. The minister, however, said it was hard to identify the proper persons for reorganising the board of directors of banks. The finance minister was responding to queries from journalists who gathered at his Secretariat office to know about the resignation of BASIC Bank chairman Sheikh Abdul Hye Bachchu. Bachchu submitted his resignation to the finance minister at his residence on Friday against the backdrop of allegations of corruption, irregularities and misappropriation of funds by the board of directors of the specialised bank. Muhith said the government would appoint a new chairman of BASIC Bank tomorrow (Sunday), according to BSS.