The officials of any public or private bank in the country and British citizens of Bangladeshi descent can take the position of Chief Executive Officer (CEO) of Sonali Bank (UK) Limited, based in London.
Among the five senior principal officers, to be appointed from Bangladesh, two will be reserved for Sonali Bank Limited officials. And the remaining three positions will be taken over from the officials of six state-owned commercial and specialised banks.
The Financial Institutions Division of the Finance Ministry included these provisions in a policy issued on Wednesday.
If the two qualified candidates are unavailable among the officers of Sonali Bank, officers will be recruited to all the posts from among the officers of the other five banks.
A selection committee has been formed to recruit through an open competition. Interested bank officials in Bangladesh must have a minimum score of 6.5 in the General Training Module of IELTS. But this does not apply to British citizens of Bangladeshi descent.
Sonali Bank (UK) Limited was established in the United Kingdom in 2001 as an independent banking company jointly owned by the Government of Bangladesh and Sonali Bank Limited.
The bank is 51% owned by the government and 49% by Sonali Bank Limited.
The policy, signed by Deputy Secretary of Financial Institutions Division Jehad Uddin, states that the Prudential Regulatory Authority and the Financial Conduct Authority also verify the governance standards of the bank in the United Kingdom.
The aim of their verification is to check whether the bank executives are "fit and proper" in conducting the business.
Besides, the bank employees need to have ideas of banking laws in the UK, and they need to have English speaking and written communication skills with British officials and regulators.
The policy also mentions that it was formulated in order to recruit qualified and experienced officers to bring qualitative change to the human resources management of the bank.