Dhaka, Oct. 19 -- The government has terminated the remaining terms of the contractual appointments of the managing directors and chief executive officers of three state-owned commercial banks - Sonali, Janata and Rupali.

The Financial Institutions Division (FID) of the Ministry of Finance issued separate letters on Monday, conveying the decision to the chairmen of the respective bank boards.

The three top officials affected by the government decision are Md Shawkat Ali Khan, MD and CEO of Sonali Bank PLC; Md Mazibur Rahman, MD and CEO of Janata Bank PLC; and Kazi Md Wahidul Islam, MD of Rupali Bank PLC.

According to the letter issued regarding Sonali Bank, the government has provided its recommendation and consent to cancel the remain...