BB issues guidelines to appoint MD, CEO of banks

Bangladesh Bank (BB) has issued a detailed guideline regarding the appointment and responsibilities of the Managing Director (MD) and Chief Executive Officer (CEO) of a bank.

Banking Regulation and Policy Department of BB issued the guideline on Tuesday and sent it to the top executives of all banks for immediate execution.

 The introduction of the guidelines states that to ensure good governance in the banking sector, it is necessary to appoint a suitable, professionally competent, and experienced managing director or chief executive officer.

Bank companies are facing greater challenges in operational management along with managing business and technical risks than ever before. In this context, there is a need to issue clear instructions regarding the appointment of the managing director or chief executive officer of the bank, said the instruction.    —UNB