Finance Minister AMA Muhith Friday defended the appointment of political persons as members of the board of directors of the state-owned commercial banks (SCBs), justifying their necessity in achieving the goals of the government. He was speaking to the newsmen after a meeting with the directors and top officials of three SCBs - Rupali, Janata and Basic banks. "We've appointed politically conscious people as bank directors to achieve the goals of a political government", the minister said.

The remarks came amid widespread criticism over appointing 'non-professional' bank directors for SCBs. Pointing to the agenda of the meeting, he said, "This meeting was just the continuation of the meeting of January 27". The minister met with the directors and top officials of two SCBs - Sonali and Agrani banks - at that time. "We've reminded the directors that their first duty is to protect the interest of depositors", the minister said, adding that development of the nation and economy comes to the second position as the responsibility of the directors.

"We talked about the issues of banks' performances and functions of boards today", Muhith said. Pointing to the report published about an SCB in a Bengali daily, the minister said, "That report is 'immature' and 'out of ignorance'." Governor of Bangladesh Bank Atiur Rahman, members of board of directors, chairmen, and managing directors of Rupali, Janata and Basic banks and top officials of the central bank were present at the meeting.

News: The Financial Express/Bangladesh/12 Feb 2011