Officials of Sonali, Agrani, Janata banks seek review of GM, DMD promotion policy

Officials of Sonali, Agrani, and Janata banks have demanded an amendment to the promotion and placement policy for the positions of general manager (GM) and deputy managing director (DMD). 

In a letter to Finance Adviser Salehuddin Ahmed, officials from these three state-owned banks said the current policy is causing them to fall behind compared to officials of Rupali Bank.

As a result, junior officials from Rupali Bank are being placed in relatively higher positions at Sonali, Janata, and Agrani banks, according to the letter signed by nearly 100 officials from the three banks. 

The letter mentioned that in 2007, the banks were converted into limited companies while keeping 100% of the shares under government ownership. 

The overall management of the banks, including operations, was entrusted to the respective boards of directors through vendor agreements and memorandums of understanding between the government and the banks.

As part of this policy, the Bangladesh Bank issued a circular in 2013, providing the recruitment, promotion, and placement authority for the positions of DMD and GM in state-owned commercial banks to their respective banks. 

However, in 2018, another circular transferred the authority for recruitment, promotion, and transfer of only DMD positions to the finance ministry.

Then in 2023, the authority for recruitment, promotion, and transfer of GM positions was shifted to the Financial Institutions Division. 

The letter further mentioned that a large batch of bankers began their careers in state-owned and specialised banks in 1998 under the Banker’s Recruitment Committee of Bangladesh Bank. 

Based on merit, they were appointed to Sonali, Janata, Agrani, and Rupali banks, respectively. However, none of the officials who joined the three banks at the same time have had the opportunity to be promoted to GM. 

On the other hand, Rupali Bank officials have received rapid promotions, allowing them to occupy higher positions such as GM, DMD, and MD in other banks. 

This disparity is creating a disruptive work environment in Sonali, Janata, and Agrani banks. Therefore, the officials have demanded a revision of the promotion and placement policy and a reinstatement of the previous policy.