Kazi Zahidul Hasan :
As of the run of the events, it seems that the government is eager to allow further extension of terms of the incumbent Managing Directors (MDs) of most public banks and financial institutions for at least one year without showing any valid reason.
The government has recently extended the job tenure of the MDs of Sonali and Rupali banks for one more year. Extension of Agrani Bank’s MD is also waiting for the central bank’s nod.
Prominent economists and policy analysts have raised, very logically the issue what are the real reasons for keeping the same very old and not so efficient ones in the same position again?
They raised very rational question — does the country suffer from dearth of qualified and efficient professional bankers at the moment.
“The government seems to be extended their job tenure without assessing their performance. As on records, these so-called bankers have over the years ruined the banks and defrauded the banking sector,” former Bangladesh Bank governor Dr Salehuddin Ahmed told The New Nation on Sunday.
He added that if their performance is properly assessed, they may not get the extension. “We have more capable and competent people for the same job. But unfortunately the government is nor picking up them paving the way of ruining the public banks further,” he said.
When asked, Dr Salahuddin said, the government is doing so to serve a vested interest group. This practice will not bring any good for the NCBs because such practice only helps intensify their management inefficiency and governance problem.
About the financial position of the Nationalized Commercial Banks (NCBs) and Financial Institutions (FIs), he said, they are simply fighting for mere survival due to soaring default and non-performing loans, financial scams and capital shortfall.
“The NCBs and FIs are in effect on red and they are being kept with life support by the way of recapitalization through budgetary allocation by the incumbent finance minister,” he added.
Terming the reappointment of MDs ‘illogical and harmful’ for the NCBs, former BB deputy governor Dr Ibrahim Khaled said that these old chief executives are responsible for all irregularities and loan scams in public banks. But, the irony is that they are getting rewarded again instead of being booked.
He added: “They are tested servants to serve party politics and their people so that the government keeping them in the same posts over the years.”
Dr Khaled further said there is grapevine that these incompetent and dishonest MDs are getting their job extended in exchange of big amount to the officials of Finance Ministry.
He also suggested for the formation of an independent selection committee for picking up competent MDs in the public banks and financial institutions.
However, insiders hold a different view. They are of the opinion that these MDs build up a nexus with the so called political power-holders, mostly rewarded with the directorship over the couple of years.
They said their connivance was so organised that they did not bother to do any of misdeeds to steal the banks in all manipulative ways.
As of the run of the events, it seems that the government is eager to allow further extension of terms of the incumbent Managing Directors (MDs) of most public banks and financial institutions for at least one year without showing any valid reason.
The government has recently extended the job tenure of the MDs of Sonali and Rupali banks for one more year. Extension of Agrani Bank’s MD is also waiting for the central bank’s nod.
Prominent economists and policy analysts have raised, very logically the issue what are the real reasons for keeping the same very old and not so efficient ones in the same position again?
They raised very rational question — does the country suffer from dearth of qualified and efficient professional bankers at the moment.
“The government seems to be extended their job tenure without assessing their performance. As on records, these so-called bankers have over the years ruined the banks and defrauded the banking sector,” former Bangladesh Bank governor Dr Salehuddin Ahmed told The New Nation on Sunday.
He added that if their performance is properly assessed, they may not get the extension. “We have more capable and competent people for the same job. But unfortunately the government is nor picking up them paving the way of ruining the public banks further,” he said.
When asked, Dr Salahuddin said, the government is doing so to serve a vested interest group. This practice will not bring any good for the NCBs because such practice only helps intensify their management inefficiency and governance problem.
About the financial position of the Nationalized Commercial Banks (NCBs) and Financial Institutions (FIs), he said, they are simply fighting for mere survival due to soaring default and non-performing loans, financial scams and capital shortfall.
“The NCBs and FIs are in effect on red and they are being kept with life support by the way of recapitalization through budgetary allocation by the incumbent finance minister,” he added.
Terming the reappointment of MDs ‘illogical and harmful’ for the NCBs, former BB deputy governor Dr Ibrahim Khaled said that these old chief executives are responsible for all irregularities and loan scams in public banks. But, the irony is that they are getting rewarded again instead of being booked.
He added: “They are tested servants to serve party politics and their people so that the government keeping them in the same posts over the years.”
Dr Khaled further said there is grapevine that these incompetent and dishonest MDs are getting their job extended in exchange of big amount to the officials of Finance Ministry.
He also suggested for the formation of an independent selection committee for picking up competent MDs in the public banks and financial institutions.
However, insiders hold a different view. They are of the opinion that these MDs build up a nexus with the so called political power-holders, mostly rewarded with the directorship over the couple of years.
They said their connivance was so organised that they did not bother to do any of misdeeds to steal the banks in all manipulative ways.
