Dhaka, Oct 31 (V7N)- The government has introduced an annual performance evaluation system for the chairmen and directors of state-owned banks and financial institutions to ensure greater accountability and transparency. Previous performance records will be considered in cases of re-appointment.

The Financial Institutions Division of the Ministry of Finance issued the Chairman/Director Appointment Policy-2025 on Thursday (October 30), incorporating the new provision.

According to the policy, the qualifications, skills, and experience of candidates will be key factors in appointments. Preference will be given to individuals with expertise in economics and banking, while skilled and experienced professionals from relevant fields may also be considered.

The new policy applies to state-owned commercial banks, specialized banks, financial institutions, and private banks or financial institutions in which the government holds shares.

Earlier, the ministry had issued a similar policy on April 9, 2024. At that time, the World Bank had expressed concerns over the lack of accountability among directors of government banks. In response, the interim government revised and strengthened the policy through this latest directive.

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