Muhith hints at raising bank director’s tenure

Finance Minister AMA Muhith yesterday hinted at increasing the tenure of bank directors from the existing two consecutive terms of six years, reports BSS.
"We have not yet decided to change the law . . . It can be a certain period," Muhith told journalists after a meeting with Bangladesh Association of Banks (BAB) and Association of Bankers, Bangladesh (ABB) at the Finance Ministry in the capital.
During the meeting, the leaders of the two associations sought necessary amendments to the existing law of bank directors for taking approval from Bangladesh Bank at the time of appointing them and about tenure of the bank directors.
The issues are related to the law and will have to be discussed with Prime Minister Sheikh Hasina, Muhith said adding, "If needed the existing law will be amended".
Board of Directors of a bank should be comprised with competent and professionally  skilled persons with a view to formulating policy-guidelines a6nd supervising business activities of the bank efficiently as well as ensuring good governance in the bank management.

Muhith hints at raising bank directors tenure

Finance Minister AMA Muhith yesterday hinted at increasing the tenure of bank directors from the existing two consecutive terms of six years, reports BSS. We have not yet decided to change the law . . . It can be a certain period, Muhith told journalists after a meeting with Bangladesh Association of Banks (BAB) and Association of Bankers, Bangladesh (ABB) at the Finance Ministry in the capital. During the meeting, the leaders of the two associations sought necessary amendments to the existing law of bank directors for taking approval from Bangladesh Bank at the time of appointing them and about tenure of the bank directors. The issues are related to the law and will have to be discussed with Prime Minister Sheikh Hasina, Muhith said adding, If needed the existing law will be amended. Board of Directors of a bank should be comprised with competent and professionally skilled persons with a view to formulating policy-guidelines a6nd supervising business activities of the bankefficiently as well as ensuring good governance in thebank management.