Opposing the proposal to allow bank directors to continue more than two terms, former deputy governor of Bangladesh Bank Khandker Ibrahim Khaled said it would create a vested group in running the banks and financial in institutions.
Speaking at a session of annual banking conference today, Ibrahim Khaled termed the demand of bank directors to allow them to continue more than two terms as irrational as it would not protect the interests of depositors.
He suggested taking CIB report mandatory for bank directors.
Bangladesh Institute of Bank Management organised the event with its director general Taufiq Ahmed Chowdhury in the chair.
Ibrahim Khaled also suggested a framing a strong legal framework to protect the interests of bank depositors, saying that general depositors are the owners of the lion portion of bank money but there is no representative from the general depositors in bank board. So, strong legal framework is needed to protect their interest, he added.
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