B Mirror Report: Bangladesh Bank (BB) Governor Md. Mostaqur Rahman has called for stronger governance and more effective Shariah compliance in the country’s Islamic banking sector, saying these are crucial to restoring public confidence and ensuring sustainable growth.

Speaking at a workshop on the role of board chairmen in Shariah governance at the Bangladesh Institute of Bank Management (BIBM) on Saturday, the governor said a large proportion of depositors prefer Islamic banking services, making credible Shariah oversight and sound governance more important than ever.

He said the Shariah Council must play a more proactive role in safeguarding public trust, adding that Bangladesh Bank is giving top priority to strengthening governance standards across the banking sector and keeping banks free from political influence.

The governor said improved institutional governance and effective Shariah compliance would enhance transparency, accountability and long-term stability in Islamic banking.

He also expressed optimism that the Bangla QR digital payment platform would see nationwide adoption over the next year, helping accelerate cashless transactions and expand financial inclusion.

Deputy Governor Md. Kabir Ahmed said the new regulatory framework broadens the responsibilities of the Shariah compliance function and strengthens institutional mechanisms to ensure compliance.

Meanwhile, Executive Director of the Islamic Banks Regulation and Policy Department Md. Ashraful Alam said the draft Islamic Banking Act is in its final stage and is expected to strengthen the regulatory framework while improving transparency, efficiency and accountability in the sector.

The workshop was jointly organised by BIBM and Bangladesh Bank’s Islamic Banks Regulation and Policy Department, with participation from bank directors, central bank officials, academics and banking professionals.