The general manager, the third-highest post at the Sammilito Bank PLC, can be appointed through open competition, transfer of GMs from state banks, or specially selecting officials from the five banks being merged to form the new bank, the government has decided.
Meanwhile, appointments to the managing director (MD) and deputy managing director (DMD) posts will be done through an open competitive process, according to a policy issued by the Financial Institutions Division (FID) yesterday.
The policy states that until the service regulations for the Sammilito Bank are formulated, appointments to these three positions will be made under this policy.
However, the process of appointing the MD had already begun through a newspaper advertisement before the new policy was issued.
According to sources familiar with the matter, 10 candidates have been shortlisted based on the prescribed qualifications.
From these 10, a subcommittee led by the Bangladesh Bank (BB) Governor Ahsan H Mansur will finalise one candidate for appointment.
For the positions of MD and DMD, recruitment will be conducted through open competition based on required educational qualifications and other experiences.
For the GM position, in addition to open competition, two separate arrangements will apply. One arrangement is that existing GMs working in state-owned, specialised, and financial institutions may be transferred to the newly formed bank with the approval of the finance adviser/minister.
The other arrangement is that qualified and suitable officials of equivalent rank from the merging banks - First Security Islami Bank, Exim Bank, Global Islami Bank, Union Bank, and Social Islami Bank. They may be appointed to the GM positions of the new bank.
The age limits for eligibility are 65 years for MD, 62 years for DMD, and 60 years for GM. The tenure of these positions will be three years on a contractual basis, with the possibility of renewal if necessary.
An eight-member selection committee led by the finance adviser/minister will decide on the appointment of the MD and DMD.
The members will include the principal secretary to the prime minister or chief adviser, the BB governor, the finance secretary, the FID secretary, the public administration secretary, and the chairman of the Shariah Advisory Board of the BB.
Meanwhile, the FID has issued a separate revised policy for appointment and promotion to these three positions in state-owned banks and financial institutions. The new policy reduced the minimum tenure in the previous post for promotion to two years, from three years.
A ministry official said the criteria have been revised so that those who gained opportunities during the previous government cannot take advantage of promotion merely on the basis of seniority.
Another major revision is the change in seniority score, which has been increased to 15 from five.
