Age limit removed for Bangladesh Bank governor's post

Parliament today (10 April) passed a bill to remove the maximum age limit of 67 years for the post of governor of Bangladesh Bank, clearing the legal path for experienced individuals to lead the central bank regardless of their age.

The Bangladesh Bank (Amendment) Bill, 2026 was passed by voice vote as Finance Minister Amir Khosru Mahmud Chowdhury moved the bill, which seeks to amend the Bangladesh Bank Order, 1972.

As there were no further amendments proposed for the specific clauses, the bill was passed in its original form.

The new legislation retains the provision for a four-year term for the governor and the possibility of reappointment.

However, it explicitly strikes out the condition from Clause 5 of Article 10 of the Bangladesh Bank Order, 1972, which stated that no person could remain in the post after reaching the age of 67.

Under the previous law, the governor was appointed for a four-year term and was eligible for reappointment, but mandatory retirement was fixed at 67 years.

The new amendment eliminates this final restriction, allowing the government to appoint or retain a governor based on merit and necessity rather than age.

In the object of the Bill, Finance Minister Amir Khosru Mahmud Chowdhury emphasised that the governor's role is critical for formulating and implementing monetary policy, maintaining financial stability, bank supervision, managing foreign exchange reserves, and coordinating with international financial institutions.

The minister argued that the existing age limit often acted as a barrier to appointing experienced, skilled, and wise individuals to this high-stakes position.

The statement said that except for Nepal and Pakistan, many countries do not have a maximum age limit for central bank governors, making this change consistent with global practices.

This is the third time in recent years the age limit has been addressed. In 2020, the limit was raised from 65 to 67 years to accommodate former governor Fazle Kabir.

The current move follows the interim government's appointment of Ahsan H Mansur, 73, as governor in 2024.

At that time, an ordinance was issued to bypass the 67-year limit. Today's passage of the bill in the Parliament provides the permanent legal framework for that decision and future appointments.