BB chief economist removed before contract ends

Bangladesh Bank has cancelled the contractual appointment of its Chief Economist Prof Akhand Mohammad Akhtar Hossain, 10 months before his contract is due to expire.

The decision was conveyed through an office order issued by Human Resources Department-1 on Tuesday, signed by Director (HRD-1) Md Shahid Reza.

However, the matter came to light on Wednesday.

The economics teacher will serve until Sep 10, the central bank said yesterday in a statement. His remaining contractual term will be cancelled from that date, it said.

Akhtar, an economics professor at United International University, was appointed chief economist on a two-year contract on Jul 1, 2025, during the interim government. His term was therefore due to end in June 2027.

As chief economist, Hossain provided policy advice to the central bank’s governor and board of directors on macroeconomic issues, monetary policy, and the stability of the banking sector.

The chief economist’s position is considered important in Bangladesh Bank’s economic policymaking, particularly in analysing macroeconomic developments and formulating monetary and financial-sector policies.

The central bank’s notification did not specify any reason for cancelling his contract before its scheduled expiry.