TIB calls for cancellation of BB governor appointment

Transparency International Bangladesh (TIB) has called for the cancellation of the appointment of the governor of Bangladesh Bank (BB) to safeguard the central bank’s independence and neutrality, ensuring it remains free from any potential conflict of interest.

Speaking at a conference, Iftekharuzzaman, Executive Director of Transparency International Bangladesh, said his continuation in the office is not acceptable at all.

Speaking at the conference titled “Giving highest strategic priority to implementing the government’s commitments on good governance and anti-corruption: TIB’s recommendations” at the organisation’s auditorium on Thursday, he said the position should be filled by an individual with proven expertise and experience in the relevant field, capable of performing the responsibilities of the governor without any conflict of interest.

Iftekharuzzaman noted that journalists themselves have raised concerns that the person appointed to the role is not suitable for the position and should therefore be removed and replaced by a more appropriate candidate.

He also recommended preparing a roadmap to develop and implement a business integrity strategy in the private sector to prevent irregularities, corruption, plundering and money laundering carried out through policy capture, collusion and syndicates involving a section of the business community.

In addition, he suggested the establishment of a separate diversity commission to safeguard fundamental rights while preserving the identity and uniqueness of various ethnic, religious, linguistic and professional communities, and to foster mutual respect, empathy and cooperation within state and social institutions.

Furthermore, he said a roadmap should be prepared and implemented for the execution of the Chittagong Hill Tracts Peace Accord.

Earlier, on 25 February, the Financial Institutions Division under the Ministry of Finance issued a gazette notification appointing Md Mostaqur Rahman as governor of Bangladesh Bank for a four-year term, replacing Ahsan H Mansur.

Mostaqur Rahman, a garment exporter and cost and management accountant, also chairs the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Standing Committee on Bangladesh Bank.

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