Bangladesh Bank incident signals ‘government-backed mob culture’, Jamaat chief says

Jamaat-e-Islami chief Shafiqur Rahman has condemned the protests surrounding the former governor of Bangladesh Bank and his advisor, describing the events as the formal debut of a government-backed "mob culture".

In a verified Facebook post on Thursday morning, the Leader of the Opposition in parliament characterised the situation at the central bank as an “unfortunate and unacceptable” precedent.

“No one has the right to insult respected individuals such as the governor of Bangladesh Bank and his advisor in this manner,” he said.

The remarks follow a day of unprecedented tension on Wednesday, where Ahsan H Mansur left the central bank at noon amidst loud demonstrations.

One of his advisors was also forced to vacate his office under pressure from agitated officials.

By late afternoon, the Tarique Rahman-led BNP government issued an order appointing garment sector businessman Mostaqur Rahman as the new governor.

The central bank sees its first-ever businessman at the helm, overturning a tradition of appointing economists and bureaucrats, or academics.

Shafiqur expressed alarm at the move, arguing that the economy is already struggling with the legacy of “fascism, corruption, extortion, and market syndicates”.

He warned that if such undesirable activities continue at a vital state institution, the remaining foundations of the economy will face ruin.

The Jamaat chief urged all sections of society to protest against this disorder, pointing out that reports of "mobs" targeting skilled and patriotic individuals in state institutions are surfacing daily.

He called on the government to stop these activities immediately if it intends to build a “democratic and equitable” Bangladesh, insisting that key appointments must rely on merit rather than political loyalty.

Jamaat Secretary General Mia Golam Porwar also voiced concern over the appointment of a businessman as the governor.

Writing on Facebook on Thursday, he noted that the governorship is not a ceremonial or decorative role but one of the most vital positions in the country.

He explained that the stability of monetary policy, banking regulation, financial discipline, and domestic and international confidence depend on this office.

He noted that after the July Uprising demanding structural change, the government’s top priority should have been merit-based leadership. “The quota movement was never only about quotas, it was fundamentally about meritocracy and competent governance.

“Yet the appointment of the new Bangladesh Bank Governor sends the opposite message.”

He pointed out that for the first time in history, an industrialist has been put in charge of the central bank -- one whose firm had nearly Tk 890 million in debt rescheduled under special policies shortly before his appointment.

Porwar also noted that the new governor served as a member of the current ruling party’s election steering committee.

“Senior banking professionals have already raised concerns about conflict of interest and institutional independence. When someone benefiting from loan restructuring is placed in charge of regulating the entire banking sector, questions about credibility become unavoidable,” he said.

He warned that when the economy most requires credibility and professional leadership, this decision could signal the end of independence for Bangladesh Bank.