B Mirror Report: Bangladesh Bank has issued show-cause notices to three officials after they held a press conference sharply criticizing several decisions of the central bank governor. In the conference, held immediately after the national elections,

the officials described the governor as “autocratic” and raised questions on multiple issues, including the merger of weak banks and the licensing of a digital bank.

Following the incident, the three officials have been instructed to submit written explanations within 10 days. Appropriate action will be taken based on their responses, according to sources.

The officials who received the notices are Naushad Mostafa, General Secretary of the Blue Panel and Director of SME & Special Programs Division; A K M Masum Billah, President of the Bangladesh Bank Officers Welfare Council; and Golam Mostafa Shraban, General Secretary of the same council.

On February 16, just one working day after the national parliamentary elections, the three officials unexpectedly held the press conference, questioning several steps of the governor. Their concerns included the merger of weak banks, the issuance of a digital bank license, and the central bank’s decision-making process.

They alleged that the merger of relatively stronger banks like EXIM Bank and Social Islami Bank with five other banks was questionable. Under the Bank Resolution Ordinance–2025, five banks have already been merged to form a government-owned consolidated Islamic bank.

The officials also claimed that the process to grant a digital bank license to bKash was being expedited. However, official documents showed that the board meeting held that day included eight agenda items, not just bKash’s license. The central bank’s spokesperson later clarified that it was incorrect to suggest the board meeting was convened solely for bKash’s license.

According to Bangladesh Bank staff regulations, no official is allowed to hold a press conference or make public statements without prior approval from the governor. Concerns about senior officials must be raised internally. The three officials were issued show-cause notices for violating this rule.

Governor Dr. Ahsan H. Mansur told several media outlets on the day of the press conference that a section was deliberately trying to create unrest post-election and that revealing board discussion topics publicly constituted a breach of discipline.

During the press conference, Golam Mostafa Shraban said that “capricious statements” in the banking sector should stop and that bank resolution must follow an objective process. Masum Billah emphasized that the officers seek institutional autonomy, not personal control, stating, “Autonomy does not mean the head of the institution becomes a dictator or autocrat.”

Responding to journalists, he added that remaining silent now could lead to questions later. Naushad Mostafa remarked, “Had the August 5 uprising not happened, perhaps we would not have been so open.”

Inside Bangladesh Bank, discussions are ongoing to form a cross-party alliance including representatives from the Blue, Yellow, and Green panels to push for full institutional autonomy, amendments to the Bank Companies Act, and promotion rights for officials.

The coordinator of this alliance has been appointed as Mofizur Rahman Khan Chowdhury, Executive Director of Bangladesh Bank and Deputy Head of BFIU, although he was not present at the February 16 press conference.