The government has approved the appointment of new managing directors (MDs) and chief executive officers (CEOs) for state-owned Agrani Bank PLC and BASIC Bank PLC.

Md. Nurul Huda, deputy managing director (DMD) of state-owned Janata Bank PLC, has been approved for appointment as MD and CEO of BASIC Bank. Meanwhile, Noor Mohammad, DMD of private-sector Jamuna Bank PLC, has been appointed MD and CEO of Agrani Bank.

The Financial Institutions Division of the Ministry of Finance issued two separate notifications in this regard on Monday (October 26). The notifications were signed by Deputy Secretary Afroz Akter Riba.

According to the notifications, both officials will serve on a contractual basis for three years from the date they assume their respective positions.

Nurul Huda to Lead BASIC Bank
Md. Nurul Huda, who previously served as DMD of state-owned Janata Bank PLC, will take over as the new MD and CEO of BASIC Bank following the government’s approval of his appointment.

Noor Mohammad Appointed MD of Agrani Bank
Noor Mohammad, who previously served as DMD of private-sector Jamuna Bank PLC, has been appointed MD and CEO of Agrani Bank. His appointment marks a move from a private-sector bank to the top executive position at a state-owned bank.

Next Steps for Formalising the Appointments
The Finance Ministry’s notifications direct the relevant authorities to complete the necessary formalities in accordance with applicable provisions of the Bank Company Act, 1991. Copies of the notifications have also been sent to the chairpersons of the boards of directors of the two banks for taking the required measures.

The incoming MDs face several major challenges, including improving operational efficiency, strengthening loan recovery, controlling non-performing loans, ensuring good governance and maintaining customer confidence. Their leadership is expected to play an important role in shaping the banks’ financial management and service quality.