Bangladesh Bank (BB) has appointed observers to four state-owned commercial banks (SCBs) to ensure better monitoring of these banks and to help them improve their performance and financial health.
Mohammad Naushad Ali Chowdhury has been appointed observer for Sonali Bank, Ahmed Jamal for Janata Bank, Nirmal Chandra Bhakta for Agrani Bank and M Abdur Rahim for Rupali Bank.
All the four observers are the executive directors of the central bank, reports BSS.
The central bank appointed the directors a day after the International Monetary Fund (IMF) suggested improving management and financial health of the country's banking sector.
"The observers have been appointed to monitor the banks' efforts to improve their financial health that they promised to do under the memorandum of understanding (MoU) signed earlier with BB," said AFM Asaduzzamand, general manager of governor secretariat.
The four observers would oversee the activities of the four state-owned banks until further directive, said the BB official.
In 2013, four SCBs signed separate memorandum of understanding with the central bank to improve their financial health through mitigating the risks of fraud.
