Tarek Reaz to join Padma Bank as MD

Tarek Reaz Khan, deputy managing director of Mutual Trust Bank Ltd, is going to join Padma Bank (formerly known as Farmers Bank) as the managing director and chief executive officer.

The Bangladesh Bank approved the appointment last week, said officials of the central bank.

Confirming the matter, Tarek Reaz told The Business Post that he is going to join the Padma Bank in March and the central bank has already approved his appointment.

After completing Masters in Marketing from Dhaka University, Tarek started his career with Beximco Group as a management trainee in 1994.

He started his banking career with the Standard Chartered Bank as a trainee officer in 1997 and worked there till 2013.

The post of MD and CEO of Padma Bank is now being served by Faisal Ahsan Chowdhury (current charge) after the tenure expiration of Ehsan Khasru.

Ehsan Khasru joined the trouble-hit bank in January 2018 as its managing director and CEO.

Khasru was replaced by AKM Shameem, who was sacked by the central bank for his failure to protect the depositors' interests and manage liquidity.

The bank recently applied for Khasru’s reappointment after his term expired, but the central bank rejected it in January this year as he has exceeded the age limit of 65 for the MD post.