The government has cancelled the remaining contractual tenure of Md. Shawkat Ali Khan, managing director (MD) of state-owned Sonali Bank PLC.
The Financial Institutions Division of the Ministry of Finance issued a notification on Monday announcing the decision.
According to the notification, the government has recommended and approved the cancellation of Shawkat Ali Khan’s remaining contractual tenure under his agreement with the bank’s board of directors.
The bank authorities have also been requested to take the necessary legal and regulatory steps to implement the decision.
Shawkat Ali Khan was appointed managing director of Sonali Bank, the country’s largest state-owned commercial bank, on October 30, 2024, for a three-year term. His appointment has been cancelled before the completion of the tenure.
Earlier, the government also cancelled the remaining contractual tenures of the managing directors of Janata Bank PLC and Rupali Bank PLC.
