Dhaka, Oct. 19 -- The government has terminated the remaining contractual terms of the managing directors of Rupali Bank, Janata Bank and Sonali Bank.

The Financial Institutions Division has issued separate letters recommending the cancellation of the appointments of Kazi Md Wahidul Islam of Rupali Bank, Mazibur Rahman of Janata Bank, and Shawkat Ali Khan of Sonali Bank.

The three officials took charge of their respective banks near the end of 2024.

In a letter sent to Janata Bank Chairman Fazlur Rahman on Monday, the Financial Institutions Division recommended and consented to the cancellation of the remaining term of Mazibur's contract.

"I have received the letter. Mazibur Rahman's appointment as MD has been cancelled," Fazlur Rahma...