Central bank officials have expressed dissatisfaction with Finance Adviser Salehuddin Ahmed for canceling the initiative to amend the proposed Bangladesh Bank Order to ensure the autonomy of Bangladesh Bank. They have demanded his resignation, even for a day.
This demand was made at a protest meeting organized in front of Bangladesh Bank on Monday. The program was held under the banner of the Bangladesh Bank Officers Welfare Council, an organization of central bank officials.
The organization's president AKM Masum Billah said that in early October last year, a proposal to amend the Bangladesh Bank Order was sent from Bangladesh Bank to the Finance Ministry. But the proposal was canceled without following any discussion or process.
"When the current adviser was governor of Bangladesh Bank, he was also in favor of this autonomy proposal. But now he has written to the governor saying that this amendment is not necessary. We are demanding his resignation because of this double-minded stance—even if it is for a day."
The protest meeting also said that the two major political parties leading in the upcoming national elections have taken a stand in favor of the autonomy of the central bank in their election manifestos.
“Whichever party forms the government, we want the effective autonomy of Bangladesh Bank to be implemented as soon as possible.”
He said that the next program will be announced after discussing with officials and employees at all levels after the upcoming February 12 elections.
In a written statement read out at the protest meeting, the organization’s general secretary Golam Mostafa Shraban said that to ensure the autonomy of Bangladesh Bank and consolidate the legal framework, a proposal to amend the Bangladesh Bank Order was sent from Bangladesh Bank to the Finance Ministry on October 9. Earlier, a memorandum was also submitted to the Finance Advisor on behalf of the Officers Welfare Council in this regard.
Unfortunately, he alleged that there is still no visible progress in ensuring the effective autonomy of the central bank and strengthening the institution in the interest of strengthening discipline and good governance in the country’s financial sector.
Shraban further said: "An independent and capable central bank is essential for financial sector reform and maintaining the country's economic stability. However, despite various basic structural reforms being undertaken during the interim government's tenure, the much-awaited Bangladesh Bank Order Amendment Ordinance has not yet been enacted."
