Banking Professional Examination

Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

GFI
Governance in Financial Institutions
CEO and Senior Management
Module- C: 22) Tone from the top
23) Qualification of CEO
24) Composition of other senior managers
CEO and Senior 25) Qualification of other senior managers
Management 26) Senior Management Committees (SMT)
27) Business strategy
28) Management Culture
29) Organization Culture
30) Changing CEO
31) Changing Senior Management

03.0 CEO and Senior Management

The CEO and senior management team of a bank play a crucial role in setting the strategic
direction and overseeing the day-to-day operations of the bank. Here are some common
questions and topics related to bank CEOs and senior management:

• What are the responsibilities of a bank CEO?

The responsibilities of a bank CEO typically include setting the overall strategy for
the bank, managing relationships with key stakeholders such as shareholders,
regulators, and customers, overseeing risk management and compliance efforts,
and ensuring the bank operates efficiently and effectively.

• Who is part of a bank's senior management team?

A bank's senior management team (SMT) typically includes the CEO, COO (Chief
Operating Officer), CFO (Chief Financial Officer), CRO (Chief Risk Officer), CCO
(Chief Compliance Officer), Head of Internal Control & Compliance (ICC), Chief
Information Technology Officer (CITO) and other senior executives who oversee key
areas such as marketing, business development and human resources.

• What are some key challenges facing bank CEOs and senior management?
Some of the key challenges facing bank CEOs and senior management include
navigating a rapidly changing regulatory landscape, managing risk and compliance
in an increasingly complex environment, staying ahead of technological
advancements, and maintaining customer trust and loyalty.

• How do banks ensure good corporate governance?

Banks can ensure good corporate governance by establishing clear lines of authority
and accountability, implementing robust risk management and compliance
programs, maintaining transparency and communication with stakeholders, and
fostering a culture of ethical behavior and accountability throughout the organization.

• What are some qualities of effective bank CEOs and senior management?
Some qualities of effective bank CEOs and senior management include strong
leadership skills, strategic thinking and planning abilities, excellent communication
34
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

and interpersonal skills, a deep understanding of the banking industry and its
regulatory environment, and a commitment to ethical and responsible business
practices.
22) Tone from the top
"Tone from the top" refers to the leadership behavior and actions of senior management,
particularly the CEO, that set the tone for the organization's culture and values. In the context
of a bank, the tone from the top can have a significant impact on the behavior and decision-
making of employees throughout the organization.
A positive tone from the top can help to foster a culture of transparency, accountability, and
ethical behavior, which can lead to increased customer trust and loyalty, improved regulatory
compliance, and reduced risk of fraud or misconduct. On the other hand, a negative tone
from the top, such as a lack of transparency, a focus on short-term profits at the expense of
long-term sustainability, or a tolerance for unethical behavior, can have the opposite effect
and undermine the bank's reputation and performance.
To establish a positive tone from the top, bank CEOs and senior management should model
the behavior and values they wish to see in their employees, communicate their expectations
clearly and consistently, prioritize ethical behavior and compliance with regulations, and hold
themselves and others accountable for their actions. This can help to create a culture of
integrity and accountability throughout the organization, which can ultimately benefit the bank
and its stakeholders.
23) Qualification of CEO
The qualifications of a bank's CEO can vary depending on the specific requirements of the
organization and the regulatory environment in which it operates. In general, a bank CEO
should have a combination of education, experience, and skills that enable them to lead the
organization effectively and navigate the complex and dynamic banking industry.
Here are some common qualifications and requirements for bank CEOs:
(1) Education: A bank CEO typically holds at least a bachelor's degree in a relevant field,
such as business, finance, economics, or accounting. Some CEOs may also hold
advanced degrees, such as a Master of Business Administration (MBA) or a Doctor of
Business Administration (DBA).

(2) Experience: A bank CEO should have a track record of success in executive leadership
roles, preferably within the banking industry. They should have experience in areas such
as strategic planning, financial management, risk management, and regulatory
compliance. Some CEOs may also have experience in other industries, such as
technology or consulting.

(3) Skills: A bank CEO should possess strong leadership skills, including the ability to inspire
and motivate others, communicate effectively, and make sound decisions under
pressure. They should also have a deep understanding of the banking industry and its
regulatory environment, as well as the ability to adapt to changing market conditions and
emerging trends.

35
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

(4) Licensing and Certification: In many countries, bank CEOs are required to hold certain
licenses or certifications, such as a banking license or a Certified Public Accountant
(CPA) certification.
It's also worth noting that some banks may have additional qualifications or requirements for
their CEO, such as experience working with a particular type of client or expertise in a specific
area of banking, such as investment banking or wealth management. Ultimately, the
qualifications of a bank CEO should align with the bank's strategic objectives and the needs
of its stakeholders, including customers, employees, and regulators.
Appointment and Responsibilities of Chief Executive of a Bank-Company
BRPD Circular Letter No. 18, dated 27 October, 2013

24) Composition of other senior managers

The composition of other senior managers in a bank can vary depending on the size and
complexity of the organization, as well as its strategic priorities and business model.
However, here are some common roles and responsibilities of senior managers in a bank:
1) Chief Operating Officer (COO): The COO is responsible for the day-to-day operations
of the bank, including areas such as technology, operations, and customer service. They
work closely with the CEO to ensure that the bank is running efficiently and effectively.

2) Chief Financial Officer (CFO): The CFO is responsible for the bank's financial
management and reporting, including areas such as budgeting, accounting, and treasury
operations. They work closely with the CEO and other senior managers to ensure that
the bank is financially sound and sustainable.

3) Chief Credit Officer (CCO): The Credit Head, also known as the Chief Credit Officer
(CCO), is a senior management position responsible for overseeing the credit risk
management function in a bank or financial institution. The Credit Head plays a critical
role in managing the credit risk of the bank, ensuring that the bank's lending activities are
conducted in a safe and sound manner. They work closely with other senior management
and business unit heads to ensure that the bank's credit risk management practices are
aligned with its overall business strategy.

4) Chief Risk Officer (CRO): The CRO is responsible for identifying, assessing, and
managing risks across the organization, including credit, market, operational, and
regulatory risks. They work closely with the CEO and other senior managers to develop
and implement risk management strategies and policies.

5) Head of Internal Control & Compliance (HoICC): The HoICC is responsible for
ensuring that the bank complies with all applicable laws, regulations, and industry
standards. They work closely with the CEO and other senior managers to develop and
implement compliance policies and procedures, as well as to monitor and report on
compliance issues.

6) Chief Marketing Officer (CMO): The CMO is responsible for developing and executing
the bank's marketing strategy, including areas such as branding, advertising, and

36
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

customer acquisition. They work closely with the CEO and other senior managers to
ensure that the bank's marketing efforts are aligned with its overall business strategy.

7) Chief Human Resources Officer (CHRO): The CHRO is responsible for overseeing the
bank's human resources function, including areas such as recruitment, talent
management, compensation, and employee relations. They work closely with the CEO
and other senior managers to ensure that the bank has a talented and engaged
workforce.
Other senior managers in a bank may include heads of business units such as commercial
banking, investment banking, or wealth management, as well as heads of technology, legal,
and operations. The specific composition of the senior management team will depend on the
bank's organizational structure and strategic priorities.

25) Qualification of other senior managers

The qualifications of other senior managers in a bank may vary depending on their
specific roles and responsibilities. However, in general, senior managers in a bank should
have a strong educational background and relevant experience in the banking industry.
Some common qualifications for senior managers in a bank may include a bachelor's or
master's degree in finance, accounting, business administration, or a related field. Many
senior managers may also hold professional certifications with long experiences.
In addition to educational and professional qualifications, senior managers in a bank should
have strong leadership, communication, and analytical skills. They should be able to make
informed decisions, manage risk effectively, and develop and implement strategies to
achieve the bank's goals.
Overall, the qualifications of senior managers in a bank should reflect their expertise and
ability to lead the organization in a competitive and constantly evolving industry.

26) Senior Management Committees (SMT)

Senior Management Committees (SMT) are groups of top executives within an
organization/ a Bank who are responsible for making strategic decisions, setting priorities,
and managing the overall direction of the company. The composition and responsibilities of
an SMT can vary depending on the organization's size, structure, and industry, but typically
includes the following:
(1) Chief Executive Officer (CEO) - The CEO is the highest-ranking executive in the
bank, responsible for the overall management and strategic direction of the bank/
organization.

(2) Chief Financial Officer (CFO) - The CFO is responsible for the financial
management of the company, including financial planning and analysis, accounting,
and financial risk management.

37
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

(3) Chief Operating Officer (COO) - The COO is responsible for overseeing the day-
to-day operations of the bank, ensuring that the bank is running efficiently and
effectively.

(4) Chief Marketing Officer (CMO) - The CMO is responsible for developing and
executing the bank's marketing strategy, including brand development, advertising,
and market research.

(5) Chief Technology Officer (CTO) - The CTO is responsible for overseeing the
bank's technological development and ensuring that technology is being used
effectively to meet the bank's goals.

(6) Head of Internal Control & Compliance Department (ICCD) - The Head of ICCD
is responsible for overseeing the bank's audit compliance and ensuring that
regulatory compliance is being ensure effectively and efficiently to meet the bank's
goals.

(7) General Counsel - The General Counsel is responsible for providing legal advice to
the bank, ensuring that the bank is in compliance with all applicable laws and
regulations.

Other members of the SMT may include heads of business units, human resources, and
other key functions depending on the bank's structure.
The SMT is responsible for setting the overall direction and strategy of the bank, as well as
ensuring that the bank is performing in line with its goals and objectives. They are also
responsible for managing risks and ensuring that the bank is operating in compliance with all
applicable laws and regulations.

27) Business strategy

Business strategy refers to the long-term plan of action that an organization takes to achieve
its goals and objectives. It involves analyzing the organization's internal and external
environment, identifying opportunities and threats, and developing a plan to create and
sustain a competitive advantage.
A good business strategy should include the following elements:
(1) Vision and mission - The organization's vision and mission should guide the
development of its strategy and provide a clear sense of purpose.

(2) Goals and objectives - The strategy should clearly define the organization's goals and
objectives and how it plans to achieve them.
(3) SWOT analysis - The strategy should include a SWOT analysis (Strengths,
Weaknesses, Opportunities, and Threats) to identify internal strengths and weaknesses
and external opportunities and threats.

38
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

(4) Competitive advantage - The strategy should identify the bank's unique strengths and
capabilities and how it plans to leverage them to create a sustainable competitive
advantage.
(5) Implementation plan - The strategy should include a detailed implementation plan that
outlines the specific actions that need to be taken to achieve the organization's goals
and objectives.
(6) Performance metrics - The strategy should include performance metrics that measure
progress toward achieving the organization's goals and objectives.
Overall, a good business strategy should be flexible enough to adapt to changing market
conditions and should be regularly reviewed and updated to ensure that it remains relevant
and effective.
28) Management Culture
Management culture refers to the values, beliefs, attitudes, and behaviors of the managers
and leaders within an organization. It influences how decisions are made, how employees are
treated, and how work is organized and performed.
A positive management culture is one that promotes open communication, transparency,
collaboration, and respect. It encourages employees to share their ideas and opinions, fosters
a sense of trust and teamwork, and supports a healthy work-life balance.
On the other hand, a negative management culture can lead to low morale, high turnover, and
decreased productivity. This may include a lack of communication, micromanagement,
excessive bureaucracy, and a lack of recognition and rewards for employees.
To develop a positive management culture, organizations should prioritize the following:
(a) Lead by example - Leaders and managers should model the behaviors and values that
they want to see in their employees.

(b) Create a shared vision and mission - The organization should have a clear vision and
mission that is communicated to all employees and used to guide decision-making.

(c) Encourage open communication - Leaders should encourage open communication

and provide employees with opportunities to share their ideas and concerns.
(d) Promote collaboration and teamwork - The organization should encourage
collaboration and teamwork across different departments and levels.

(e) Support employee development and growth - The organization should invest in
employee training and development to help them grow and advance in their careers.

(f) Recognize and reward employees - The organization should recognize and reward
employees for their contributions and achievements.
Overall, a positive management culture can help to create a more engaged and productive
workforce, leading to better business outcomes and success for the bank.

39
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

29) Organization Culture

Organizational culture refers to the shared values, beliefs, attitudes, behaviors, and
customs that define the way people within an organization think, feel, and act. It
includes the unwritten rules and norms that guide behavior and decision-making.
A strong organizational culture can help to create a sense of identity and belonging
among employees, improve communication and collaboration, and drive innovation
and performance. On the other hand, a weak or negative organizational culture can
lead to high turnover, low morale, and decreased productivity.

Some key elements of organizational culture include:

1. Mission, vision, and values - The organization's mission, vision, and values
should reflect the organization's purpose and guide decision-making.

2. Communication - Open and effective communication should be encouraged

and supported within the organization.
3. Leadership - The organization's leaders should model the behaviors and
values that they want to see in their employees.
4. Employee engagement - The organization should prioritize employee
engagement by providing opportunities for development, recognition, and
feedback.
5. Diversity and inclusion - The organization should value diversity and foster
a culture of inclusion.
6. Performance and accountability - The organization should hold employees
accountable for their performance and provide clear expectations and
feedback.

To develop a strong organizational culture, organizations should prioritize the

following:

1. Define the culture - The organization should define its desired culture and
communicate it clearly to all employees.
2. Lead by example - Leaders and managers should model the behaviors and
values that they want to see in their employees.
3. Engage employees - The organization should prioritize employee
engagement by providing opportunities for development, recognition, and
feedback.

40
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

4. Encourage collaboration and teamwork - The organization should

encourage collaboration and teamwork across different departments and
levels.
5. Promote transparency and accountability - The organization should
promote transparency and hold employees accountable for their actions.

Overall, a strong organizational culture can help to create a positive work environment,
improve employee morale and productivity, and drive business success.

30) Changing CEO

Changing a CEO can be a significant event for a bank and can have both positive and
negative impacts on the company. Here are some things to consider when changing
a CEO:

1. Communication: It is essential to communicate the change in leadership to

employees, customers, and stakeholders as soon as possible. This can help
reduce uncertainty and maintain confidence in the organization.

2. Search for a new CEO: The board of directors or hiring committee should
conduct a thorough search for a new CEO that aligns with the organization's
values, goals, and objectives.

3. Transition plan: A transition plan should be developed to ensure a smooth

handover of responsibilities from the outgoing CEO to the new CEO.

4. Continuity: The new CEO should focus on maintaining continuity in the

organization's operations and work closely with the management team to
ensure a seamless transition.

5. Culture and values: The new CEO should be committed to the organization's
culture and values and work towards strengthening and enhancing them.

6. Performance and results: The new CEO should prioritize performance and
results and ensure that the organization is achieving its goals and objectives.

7. Stakeholder management: The new CEO should work to build and maintain
strong relationships with key stakeholders, including customers, investors,
employees, and suppliers.

It is also important to note that changing a CEO can be a complex process that requires
careful planning and execution. The board of directors or hiring committee should

41
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Professional Examination
Junior Associate of the Institute of Bankers, Bangladesh (JAIBB)

work closely with the outgoing CEO and the new CEO to ensure a smooth transition
and minimize any disruptions to the organization's operations.

31) Changing Senior Management

Changing senior management can also have significant impacts on a bank, and it is
important to approach it strategically to ensure a smooth transition. Here are some
things to consider when changing senior management:

1. Evaluate the need for change: The organization should evaluate the need
for changing senior management and determine the areas that require
improvement.

2. Develop a plan: The organization should develop a clear plan for the
transition, including the roles and responsibilities of the outgoing and
incoming management.
3. Communicate with employees: The organization should communicate the
changes to employees and provide support to those affected by the changes.

4. Conduct a thorough search: The organization should conduct a thorough

search for the new management and ensure that they have the required skills
and experience to lead the organization.

5. Provide training and support: The organization should provide training

and support to the new management to help them understand the
organization's culture and values.

6. Ensure continuity: The new management should work with the existing
team to ensure continuity in the organization's operations.
7. Monitor progress: The organization should monitor the progress of the new
management and provide feedback and support as needed.

It is also important to note that changing senior management can be a complex

and sensitive process that requires careful planning and execution. The organization
should work closely with the outgoing and incoming management to ensure a
smooth transition and minimize any disruptions to the organization's operations.

Additionally, the organization should consider the impact of the changes on key
stakeholders, such as customers, suppliers, and investors, and take steps to manage
those impacts effectively.

42
Md.Monowar Hossain FCA, FCMA
Former CFO, Head of ICC, Agrani Bank Ltd.
 Banking Regulation & Policy Department
Bangladesh Bank
Head Office
Dhaka
27 October, 2013
BRPD Circular Letter No. 18 Date: ----------------------
12 Kartik, 1420

All bank companies working in Bangladesh

Except specialised banks

Dear Sir,
Appointment and Responsibilities of Chief Executive of a Bank-Company

The issue of good governance is very important in bank management. In order to strengthen the
financial base of the bank and obtain confidence of the depositors, appointing honest, efficient,
experienced and suitable chief executive is one of the responsibilities of the Board of Directors. In order
to ensure good governance, bank should follow the guidelines enumerated below while appointing the
CEO and in devising the role-responsibilities and authorities of the CEO:

A. Rules and regulations for appointing CEO:-

1. Moral Integrity: In case of appointment to the post of Chief Executive, satisfaction in respect of the
concerned person should be ensured to the effects that,-

a) He has not been convicted by any Criminal Court of Law;

b) He has not been punished for violating any rules, regulations or procedures/norms set by any
Controlling Authority;

c) He was not associated with any such company/organization, registration or licence of which
has been cancelled.

2. Experience and Suitability:

a) For appointment as chief executive, the concerned person must have experience in banking
profession for at least 15 (fifteen) years as an active officer and at least 02 (two) years experience
in a post immediate below the chief executive of a bank.

b) He must at least have a Masters degree from any recognized university. Higher academic
education in the field of Economics, Banking and Finance or Business Administration will be
treated as additional qualification for the concerned person.

c) In respect of service, the concerned person should have excellent record of performance.

d) Satisfaction should be ensured that the concerned person was not dismissed from service when
he was chairman/director/official of any company;

e) Any director of any bank or financial institution or any person who has business interest in the
bank concerned will not be eligible for appointment to the post of chief executive.
3. Transparency and Financial Integrity: Before appointment as chief executive, satisfaction should be
ensured to the effects that:

a) The concerned person was not involved in any illegal activity while performing duties in his
own or banking profession;

b) He has not suspended payment to creditors or has not compromised with his creditors to be
relieved from debt or he is not a loan defaulter;

c) He is not a tax defaulter;

d) He has never been adjudicated an insolvent.

4. Age limit: No person crossing the age of 65 years shall hold the post of CEO of a bank.

5. Tenure: The tenure of the chief executive shall be for at least 03 (three) years, which is renewable. If
the candidate has less than 3 years left to attain 65 years, he/she can be appointed for that period.

6. Guidelines in fixing the salary and allowances: Banks are required to follow the guidelines stated
below while determining the salary and allowances of the CEO and submitting such proposal to
Bangladesh Bank:-

a) In fixing the salary and allowances of the chief executive, financial condition, scope of
operation, business-volume and earning capacity of the bank; qualifications, achievement of the
candidate in the past, age and experience and the remuneration paid to the persons occupying
same position in the peer banks shall have to be taken into consideration.

b) Total salary shall be comprised of direct salary covering 'Basic Pay' and 'House Rent' and
allowances as 'Others'. The allowances (e.g., provident fund, utility bill, leave-fare assistance) in
'Others' head should be specified in amount/ceiling. Besides, other facilities (e.g., car, fuel, driver
etc.), as far as possible, shall have to be monetized and thus determining monthly total salary, it
shall have to be mentioned in the proposal to be submitted to Bangladesh Bank. In the proposal,
Basic Pay, House Rent, Festival Allowance, other allowances and other facilities shall have to be
specified in Taka amount.

c) Without improving the bank’s major economic indicator like- CAMELS annual salary
increment will not be payable.

d) Terms of salary-allowances and other facilities as specified in the terms and conditions of
appointment cannot be changed during the tenure. In case of renewal, proposal may be made for
re-fixation of the salary considering the job performance of the incumbent chief executive.

e) The Chief Executive so appointed shall not get any other direct or indirect facilities (e.g.,
dividend, commission, club expense, etc.) other than the salary-allowances and other facilities as
enumerated in clause (b) above.

f) The bank shall not pay any income tax for the chief executive, i.e., the chief executive so
appointed shall have to pay it.
7. Incentive Bonus: Subject to the payment of incentive bonuses to all stuffs/employees, the CEO will be
eligible to get such bonus. However, the amount of CEO’s incentive bonus will not cross Taka 10.00 (ten)
lacs per year.

8. Honorarium for Board Meeting: As CEO is a salaried official of the bank, he will not get any
honorarium for attending the Board meeting or the meeting of any Committee formed by the Board.

9. Evaluation Report: While reappointing CEO, an evaluation report approved by the board of directors
should be submitted to Bangladesh Bank by the chairman of the Board.

10. Prior approval from Bangladesh Bank: Prior approval from Bangladesh Bank is mandatory before
appointing CEO as per section 15(4) & (5) of the Bank Company Act 1991 (Amended upto 2013). For
processing such approval, along with the proposal signed by the chairman of the board, the selected
person’s complete resume, offer letter (mentioning the direct & indirect remuneration and facilities) and
copy of board’s approval must be submitted to Bangladesh Bank. The selected person must also submit
declarations as per Annexure-ka & Annexure-kha to Bangladesh Bank.

11. Decision of Bangladesh Bank regarding appointment of CEO will be treated as final and such
appointed CEO cannot be dismissed, released and removed from his office without prior approval from
Bangladesh Bank.

B. Duties and Responsibilities of CEO:

The CEO of the bank, whatever name called, shall discharge the responsibilities and affect the
authorities as follows:

a) In terms of the financial, business and administrative authorities vested upon him by the board,
the CEO shall discharge his own responsibilities. He shall remain accountable for achievement of
financial and other business targets by means of business plan, efficient implementation thereof
and prudent administrative and financial management.

b) The CEO shall ensure compliance of the Bank Company Act, 1991 and other relevant laws and
regulations in discharging routine functions of the bank.

c) At the time of presenting any memorandum in the Board Meeting or Board Committee
Meeting, the CEO must point out if there is any deviation from the Bank Company Act, 1991 and
other relevant laws and regulations.

d) The CEO shall report to Bangladesh Bank any violation of the Bank Company Act, 1991 or of
other laws/regulations.

e) The recruitment and promotion of all staff of the bank except those in the two tiers below him
shall rest on the CEO. He shall act in such cases in accordance with the approved service rules on
the basis of the human resources policy and sanctioned strength of employees as approved by the
board.

f) The authority relating to transfer of and disciplinary measures against the staff, except those at
two tiers below the CEO, shall rest on him, which he shall apply in accordance with the approved
 service rules. Besides, under the purview of the human resources policy as approved by the board,
he shall nominate officers for training etc.

This Circular is issued with immediate effect. After this circular becomes effective, BRPD
Circular Letter No.15 dated: 03 September 2002, BRPD Circular Letter No.17 dated: 14 October 2002,
BRPD Circular Letter No.06 dated: 16 March 2003, BRPD Circular Letter No.03 dated: 01 February
2006, BRPD Circular Letter No.03 dated: 02 March 2008 and BRPD Circular Letter No.06 dated: 20
April 2010 will be treated as void.

Yours faithfully,

(Saiful Islam)
Deputy General Manager
Phone: 9530155
 Annexure-A

Letter of Declaration

I do hereby declare that I am eligible to become a Chief Executive/Managing Director of

Bank Company as per fit and proper test criteria of section 15(6) and other sections of the Bank
Company Act, 1991 (Amended upto 2013) as well as BRPD Circular Letter No.18 dated 27
October 2013. I further state that-

a) I have management or business or professional experience for at least 15 (fifteen) years;

b) I have not been convicted by any court in any criminal offence or was never been or not
involved in any fraud/forgery, financial crime or other illegal activities.

c) There is no adverse observations/comments against me in verdict of the court of any

Civil/Criminal case.

d) I have not been convicted in regard to contravention of rules, regulations or discipline of the
regulatory authorities of financial sector.

e) I was not involved with any Company/firm whose registration/license has been cancelled.

f) There are no loans taken by me or my allied concern from any bank or financial institution

that have become defaulted.

g) I have not been adjudicated a bankrupt by a court.

h) I am not a director of any bank company, financial institution.

i) I have never been removed from any company, specially from any bank or financial institution
as Chief Executive, Chairman or Director.

j) I am not a defaulter of tax for myself or sole proprietorship or partnership.

Signature :
Date :
Name :

Counter Signature:
( )
Chairman Board of Directors
-------------Bank Ltd
 Annexure-B

DECLARATION OF SECRECY

I, undersigned, do hereby declare that if I am appointed as Chief Executive Officer/Managing Director of

…………….Bank Ltd, any case or documents presented for my consideration or any kind of information
come to my knowledge in the course of my duties I will not disclose it directly or indirectly to any
person.Unless for performing my duties or instructed by the rules & regulation of the country or
authorised by the Board to do so.

Signature :
Date :
Name :

Witness:
1.
Signature :
Date :
Name :
2.
Signature :
Date :
Name :