B Mirror Report: A citizens’ platform has expressed concern over the recent appointment of a new governor of Bangladesh Bank, raising questions about both the selection process and the background of the appointee.
In a statement issued on Monday and signed by Citizens’ Coalition co-convener Fahim Mashrur, the platform said leadership changes in key state institutions are expected following the formation of a new government after the 13th national election on February 12. However, it said the manner in which the central bank’s new chief was appointed has created serious concerns among sections of civil society.
The coalition described the banking sector as one of the worst-affected sectors over the past decade and a half, alleging that political patronage enabled influential business groups to siphon off public funds abroad. According to the statement, non-performing loans have exceeded Tk 6 trillion, with the default rate reaching 36.3 percent.
The platform noted that this is the first time a businessperson has been appointed as the central bank governor, adding that such instances are rare in comparable economies. It said the newly appointed governor previously held key positions in major business organisations linked to the readymade garment, real estate, travel and chamber sectors, representing business interests.
In this context, the coalition warned of possible conflicts of interest, as Bangladesh Bank’s policy decisions directly impact multiple business sectors.
The statement also referred to reports that the governor had rescheduled loans worth more than Tk 800 million for his own business under special consideration. While acknowledging that such rescheduling may be legally permitted, the coalition questioned whether holding the top central bank position while carrying significant loan liabilities meets acceptable ethical standards.
It further cited media reports claiming that the governor had recently served as an important member of the ruling party’s election management committee, raising concerns about political neutrality.
The Citizens’ Coalition said appointing a politically connected businessperson to lead the central bank could risk undermining institutional independence and turning it into an instrument of vested interests rather than protecting national economic priorities.
The platform urged the government to reconsider the appointment and called for the formation of an independent expert search committee and parliamentary hearing process before selecting the central bank governor to ensure transparency, accountability and professional leadership.
