Mostaqur Rahman made new BB Governor

The government has appointed Md Mostaqur Rahman as the new Governor of Bangladesh Bank.

This was announced in a notification from the Financial Institutions Division of the Ministry of Finance on Wednesday.

The notification, signed by Deputy Secretary Mohammad Abraul Hasan Majumdar, states that Mostaqur Rahman will serve a four-year term starting from the date he joins.

The appointment requires him to sever ties with all other institutions and organisations. He will receive salary, allowances, and benefits from Bangladesh Bank as outlined in the agreement with the government, with other details governed by that agreement.

The order, issued in the public interest, takes immediate effect.

Mostaqur Rahman is an accountant and serves as the Managing Director of Hera Sweaters Limited, a ready-made garment exporting company. He also chairs the Standing Committee of BGMEA related to Bangladesh Bank affairs.

In a separate notification, also signed by Deputy Secretary Mohammad Abraul Hasan Majumdar, the government cancelled the remaining term of Dr. Ahsan H. Mansur as Governor of Bangladesh Bank.

This order, likewise issued in the public interest, takes immediate effect.

This follows recent developments including protests by central bank officials and discussions around accelerating banking sector reforms.