Bankers who have retired after working with integrity and reputation can now become managing directors (MDs) of state-owned commercial banks. For this, the Financial Institutions Division of the Ministry of Finance is going to amend the existing recruitment policies for some top-level positions in state-owned banks and issue new policies.

The new policy will be named 'Appointment, Promotion and Posting Policy for the Posts of Managing Director, Deputy Managing Director (DMD) and General Manager (GM) of State-Owned Commercial Banks, Specialized Banks and Financial Institutions-2025.'

For the first time, the Anti-Corruption Commission (ACC) report is being made mandatory in the policy for becoming an MD of a state-owned bank. Both types of reports are taken in the existing system, but they are not mentioned in the policy. Now it is being mentioned in the policy. Along with MD, these two reports are also being made mandatory for the appointment and promotion of DMD and GM in specialized banks and financial institutions.

If the provision for appointing MDs from among retired bankers is added, retired former bankers under the age of 65 will get the opportunity to become MDs. The relevant people said that this provision is being added to utilize their experience. Bangladesh Bank has also agreed to this.

When asked, Bangladesh Bank Governor Ahsan H. Mansur told that the Financial Institutions Division is approving the policy of appointing and promoting GMs to MDs of state-owned commercial, specialized and financial institutions. The governor said, "Bankers retire at the age of 59. Since the appointment is based on a three-year contract and since it is possible to be an MD in state-owned commercial banks up to 65 years, we welcome the initiative. This will create an opportunity for honest, dedicated and tested bankers to contribute to the banking sector."

Currently, MDs are appointed to state-owned commercial banks from among MDs working in state-owned banks and financial institutions or through promotion from DMDs. The new policy being prepared by the Financial Institutions Department will also allow retired MDs and DMDs to be included in the shortlist for appointment. These provisions have already been included in the draft policy.