The Bangladesh Bank has reduced the minimum required experience for becoming the chief financial officer (CFO) of a bank from 12 years to 10 years.
The central bank on Thursday issued a circular in this regard and asked all the scheduled banks to comply with it when appointing officials in this post.
The Bangladesh Bank said from now on the banks are allowed to appoint CFOs who have minimum 10-year experience in banks and financial institutions with minimum three years of expertise in banking accountancy and tax.
Other directions will remain in effect as per the central bank's circular issued on 25 March, 2018, said the Bangladesh Bank.
In that circular, the central bank said before appointing a CFO and a Chief Information Technology Officer (CITO), the banks should ensure that the candidates were not convicted by any criminal court and were not suspended from job for corruption.
It also said the banks would have to ensure that the candidates were not defaulters or bankrupt. For the post of the CFO, the candidates were required to have 12 years' of job experience in the respective banks with a post-graduate degree in banking or finance or accounting.
For the position of the CITO, the candidates should have at least 12 years of job experience in the information technology (IT) sector with five years of experience in banking IT, including IT policy and planning, financial network and application, financial information systems and cyber securities technology, the previous circular said.
The CITO candidates should have a degree on computer science, physics, mathematics or electrical engineering. Membership of any registered computer society is mandatory for the position, the circular added.