10yr experience must to become CFO: BB

At least 10 years of working experience will now be required to become the chief financial officer of a bank and non-bank financial institutions in Bangladesh.

To become a CFO of any such institution, he or she must possess at least three years of experience in the field of banking, accounting or tax-related activities.

The Banking Regulation and Policy Division of Bangladesh Bank on Thursday came up with such an instruction with immediate effect.

The guidelines on educational qualifications and experiences for appointing the CEOs were sent to the managing directors and chief executive officers of the banks, keeping a provision that the person concerned should have at least 10 years of experience in a bank or financial institution in order to be appointed or appointed as a chief financial officer.

However, the candidate concerned must have at least three years of experience in banking, accounting or tax related activities out of a decade-long experience.

Besides, other instructions of BRPD circular letter no. 3 of 2018 in this regard will remain unchanged.

Amid the huge irregularities surfaced in the balance sheets of

different banks, the BB made the experience a must to hold the senior position like CFO, a senior BB official

said.