Three central bank officials ‘immediately transferred’ after show-cause notices

The Bangladesh Bank has ordered immediate transfer (stand release) of three officials who received show cause notices for breach of discipline.

The central bank had served them the notices two days ago for calling a press briefing alleging that digital banks were getting approval before the formation of the new government.

The three officials facing transfer are Bangladesh Bank Officers’ Welfare Council President AKM Masum Billah, General Secretary Golam Mostafa Srabon, and Naushad Mostafa, director of the SME and Special Programmes Department.

Among them, Masum has been transferred to the Rangpur office, Srabon to Bogura, and Naushad to the Barishal office.

Bangladesh Bank spokesperson Arif Hossain Khan said, “All three have been transferred to offices outside Dhaka with instructions.”

The bank called an emergency board meeting on Feb 16, the day before the formation of the BNP-led government.

Before the board meeting began, the Bangladesh Bank Officers’ Welfare Council held a briefing at the bank’s Motijheel office at 12pm.

At the briefing, Masum said: “After the election, when the newly elected representatives were taking oath, and the process of forming the government was under way, an emergency board meeting was called with just one day’s notice.

“This has created fear that the transparency and professionalism of Bangladesh Bank will be undermined.

“The main purpose of this meeting is to grant a digital bank licence to a specific group, about which there are widespread questions and concerns.”

The board meeting took place amid intense controversy over the approval of a digital bank licence.

Although the briefing drew significant attention, the board ultimately did not approve the licence.

Soon after, Bangladesh Bank issued an internal order prohibiting employees from speaking about banking matters or policies in private meetings, public events, or with the media without prior approval.

The three officials were served show-cause notices on Sunday, and immediate transfer orders for them were issued on Tuesday.