Dhaka, Oct. 26 -- The government has named new managing directors for state-owned Janata, Agrani and BASIC banks, approving three-year contractual appointments for the three executives.

Noor Mohammed, currently deputy managing director of private Jamuna Bank, will head Agrani Bank.

Md Mahbub Alam, additional managing director and chief risk officer of Southeast Bank, has been selected to lead Janata Bank.

Md Nurul Huda, deputy managing director of Janata Bank, will take charge of BASIC Bank.

The finance ministry's Financial Institutions Division approved the appointments for three years.

Letters were sent to the banks' boards on Monday to complete the formalities under the Bank Company Act.

Agrani Bank Chairman Syed Abu Naser Bukhte...