'Let me start working, then we'll talk': New BB governor regarding challenges on first day in office
Yesterday (25 February), Mostaqur was appointed Bangladesh Bank governor for a four-year term, replacing Ahsan H Mansur.
Md Mostaqur Rahman FCMA, a garment exporter and cost and management accountant, took office as the 14th governor of Bangladesh Bank today (26 February).
He entered the office a little before 11am, as three deputy governors and senior officials received him on arrival for his first day in office.
"I'm here. Let me start working first, then we will talk," Mostaqur told reporters while entering the central bank when asked what challenges he would prioritise.
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Yesterday (25 February), Mostaqur was appointed Bangladesh Bank governor for a four-year term, replacing Ahsan H Mansur.
The Financial Institutions Division (FID) under the finance ministry issued a gazette notification appointing Mostaqur, who currently serves as chairman of the Bangladesh Garment Manufacturers and Exporters Association's (BGMEA) Standing Committee on Bangladesh Bank.
In a separate gazette issued the same day, the government cancelled with immediate effect the contract of Mansur, who was appointed as BB governor on 13 August 2024, eight days after a mass uprising ousted the Awami League government, and four days after the then governor Abdur Rouf Talukder resigned.
Mostaqur is managing director and CEO of Hera Sweaters Limited and was a member of the BNP's election steering committee during the 13th national election held earlier this month.
He previously served as a board member of the Chittagong Stock Exchange between 1998 and 2000, when current Finance Minister Amir Khasru Mahmud Chowdhury chaired the same board.
This marks the first time in Bangladesh's history that a businessman has been appointed governor of Bangladesh Bank. Traditionally, the post has been held by bureaucrats, economists or career bankers.
In an immediate reaction to bdnews24.com yesterday, the businessman-turned-governor said "restoring confidence" in the banking sector would be his priority at the beginning of his tenure.
"You know the current condition of the economy and the banking sector. So taking on this responsibility at this time certainly comes with challenges," Mostaqur said.
"Insha'Allah, let me first sit at the bank and hold discussions with everyone. With everyone's cooperation, the main task will be to build trust in the banking sector first and to restore discipline further.
"Certainly, the previous governor [Mansur] has already restored much of it, and we will take it forward," he added.
Regarding Mostaqur's appointment, Finance Minister Khasru said the change in the governor's post was "not unusual."
"A new government has come to power. Many things will change. This is not unusual. There will be changes in many places," he told journalists at the Secretariat.
