Trust building in banking sector top priority: New BB governor
Mostaqur said reducing interest rates would be among his key priorities to support economic growth
Newly appointed Bangladesh Bank Governor Md Mostaqur Rahman has said restoring trust and discipline in the country's banking sector will be his foremost priority as he assumes office.
"Inshallah, first I will sit at the bank and hold discussions with everyone. With everyone's cooperation, the main task will be trust building in the banking sector and bringing back greater discipline," he told bdnews24.com in an immediate reaction today (25 February).
He acknowledged the efforts of his predecessor, Dr Ahsan H Mansur, in restoring order in the sector and expressed his intention to further strengthen those initiatives.
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Mostaqur also said reducing interest rates would be among his key priorities to support economic growth.
"As you know, the economy and the banking sector are facing challenges. Taking on this responsibility at this time is itself a challenge," he said.
He noted that credit growth has slowed in recent months and emphasised the need to lower interest rates to help stimulate economic activity.
"Our priority will be to work first. We do not want a situation where we talk but cannot deliver. Please pray for us. We seek everyone's cooperation," he added.
Md Mostaqur Rahman FCMA has been appointed governor of Bangladesh Bank for a four-year term, replacing Dr Ahsan H Mansur.
The Financial Institutions Division of the Ministry of Finance issued a gazette notification this afternoon confirming his appointment.
He is the managing director and chief executive officer of Hera Sweaters Limited and currently serves as chairman of the BGMEA Standing Committee on Bangladesh Bank.
He was also a member of the BNP's election steering committee during the 13th national election held earlier this month.
A qualified Cost and Management Accountant (CMA) with 33+ years of post-qualification experience, he holds a BCom (Hons) and a Master's Degree from the Department of Accounting at Dhaka University, according to his curriculum vitae.
Throughout his career, he has been a member of prestigious professional and industry associations, including Bangladesh Garments Manufacturers and Exporters Association (BGMEA), Real Estate and Housing Associations of Bangladesh (REHAB), Association of Travel Agents of Bangladesh (ATAB), and Dhaka Chamber of Commerce and Industry (DCCI), and has served on various important committees.
He has also worked closely with various regulators, including the Bangladesh Bank and Chittagong Stock Exchange Ltd.
Mostaqur is a senior financial governance specialist with over 30 years of leadership experience in corporate finance, export economics, institutional governance, and financial systems management, with expertise in financial oversight, regulatory compliance, banking-sector engagement, and capital management.
