"Even today I hear complaints that when a person goes to a commercial bank, particularly to an NCB, with a hundred thousand taka deposit into the bank he is questioned for an hour about where he got the money from," Azizul said.

"It's not your business to inquire into the sources of a client's money. You are no NBR [National Board of Revenue] or central bank or Anti-Corruption Commission, and neither are you the national task force," he said.

The adviser was addressing a seminar on 'Janata Bank: Changing Corporate Culture' at the city's Brac Centre Inn.

He observed that many of the problems that the NCBs now face have been caused or worsened by political interference in management, in portfolio choices and even in day-to-day running of the banks.

Aziz said ministers in the past would use the banks as sources of money for their political and business interests.

Besides, he said, political affiliations of the CBAs (central bargaining agents) adversely affect the bank officials' efficiency and integrity.

Lack of service orientation is one of the maladies, he said adding that the NCBs have not been able to do justice to optimising the stakeholders' value, and perhaps the value of many has rather been neglected, if not completely ignored.

Performance of the bank officials has not been up to the mark. Many officials could be accused of professional incompetence and moral turpitude.

He said, "Unless we can do something to solve this sort of problem, I am afraid, a mere change in organisational structure will not be adequate to change the corporate culture of the NCBs."

According to the finance adviser, the present caretaker government has committed itself to seeing these banks function independently and competently.

The policy-based loans that once used to have negative impacts on the operation of nationalised commercial banks have been drastically reduced, he said adding," The finance ministry does not tell you that you'd have to give loans for this purpose or at this rate."

"Having observed some of the changes not only in financial sector but in other areas, I tend to be optimistic. It is my understanding that the nationalised commercial banks will transform themselves from a bitter past into a better future," Aziz said.

Khondkar Ibrahim Khaled, former deputy governor of Bangladesh Bank, presented a keynote paper while Agrani Bank Chairman Siddiqur Rahman Chowdhury, Janata Bank Chairman Suhel A Choudhury and Managing Director Mukter Hussain, among others, spoke at the seminar.

In his presentation, Khaled said top management in general and chief executive in particular constitute the most critical factor in hierarchical organisation for visualising and implementing any change programme.

"The CEO and half a dozen top management personnel with proven competence and market-based compensation package should be recruited from within and outside by a competent search committee," he recommended.

He also suggested that the appointments be contractually subject to achievement of goals.

"Top management may evaluate performance of all officers. High achievers should be given immediate and attractive rise in compensation while organisational burdens with acute inefficiency should be offered golden handshake with reasonable compensation," he said.