President to appoint BB Governor under draft amendment

NN Online:
A draft amendment to the Bangladesh Bank Ordinance proposes significant changes to the Bangladesh Bank Order 1972, including transferring the authority to appoint the central bank governor from the government to the President and extending the governor’s tenure from four to six years.

A senior central bank official, requesting anonymity, said the move aims to boost Bangladesh Bank’s autonomy by reforming the appointment process and revising terms of office. Under current law, the prime minister can appoint the governor without the President’s consent. The draft suggests the President would make the appointment in consultation with the prime minister and with parliamentary approval.

Other proposals include revising the oath-taking procedure and elevating the ranks of the governor and deputy governors.

Bangladesh Bank Governor Ahsan H Mansur recently said the reforms are intended to strengthen the central bank’s authority and shield it from political influence. Spokesperson Areif Hossain Khan confirmed the draft’s preparation, noting that the final provisions will be known once the ordinance is issued.