Pulack Ghatack
A major reshuffle in the boards of various private sector banks is in the offing and some 130 bank-directors is expected to be dropped from their respective boards by October 2008 to comply with the amended Bank Company Act.
More than half of the country’s private banks would either have to appoint new directors or thoroughly rearrange their boards after October next year as the amended banking law limits the number of directors to 13 only and restricts the tenure of a director to two consecutive terms (three-year term each), sources in the Bangladesh Bank said. [Read more]