Business Desk :
Bangladesh Bank has reduced the age limit for requirement of chief financial officers (CFO) in banks.
The central bank on Thursday issued a circular setting out the new standard deducting two years from 12-year of job experience for the appointment of a CFO and asked all scheduled bank to comply with it when appointing in this post.
Bangladesh Bank said, from now on banks are allowed to appoint CFO who are experienced minimum 10-year in banks and financial institutions with minimum three years expertise in banking accountancy and tax.
Other directions will remain in effect as per the central bank circular issued on 25 March, 2018, said Bangladesh Bank.
In the 2018 circular, the central bank said before appointing a CFO and a Chief Information Technology Officer (CITO), the banks should ensure that the candidates were not convicted by any criminal court and were not suspended from job for corruption.
It also said that the banks would have to ensure the candidates were not defaulters or bankrupt.
For the CFO position, the candidates should have 12 years’ job experience in the respective banks with a post-graduate degree in banking or finance or accounting.
For the position of CITO, the candidates should have at least 12 years’ job experience in information technology sector with five years’ experience in banking IT, including IT policy and planning, financial network and application, financial information systems and cyber securities technology, the previous circular said.
CITO candidates should have a degree on computer science, physics, mathematics or electrical engineering. Membership of any registered computer society is mandatory for the position, the circular added.
