Md Mostakur Rahman has been appointed as the new governor of Bangladesh Bank.
This information was given in a notification issued by the Financial Institutions Division of the Ministry of Finance on Wednesday (February 25).
The notification said that in accordance with Section 10(5) of the Bangladesh Bank Order, 1972, he has been appointed as the governor for a period of four years from the date of joining on the condition of renouncing his employment relationship with all other institutions and organizations.
The notification said that this order, issued in the public interest, will come into effect immediately.
The notification was issued by Deputy Secretary Mohammad Baraul Hasan Majumder on the order of the President.
In the context of strengthening the ongoing reform activities in the banking sector, Ahsan H Mansur has been removed from the post of governor amidst various discussions and criticisms.
Mostakur Rahman, born May 12, 1966, is a recognized cost and management accountant.
He obtained a certificate from the Institute of Cost and Management Accountants of Bangladesh in 1992. He also obtained a Bachelor of Commerce (Honours) degree in 1987 and a Master of Commerce degree in 1988 from the Department of Accountancy, Dhaka University.
He has more than three decades of experience in his professional career. He has worked for a long time in financial management, export economics, institutional governance, capital structure, and liquidity management.
Rahman has long been associated with the country's top industrial and trade organizations.
He is a member of the Bangladesh Garments Manufacturers and Exporters Association and has served as chairman of the standing committee on Bangladesh Bank. He was a member of the board of directors of Chittagong Stock Exchange Limited from 1998 to 2000.
He is also associated with the Real Estate and Housing Association of Bangladesh, Association of Travel Agents of Bangladesh, and Dhaka Chamber of Commerce and Industry.
He has participated in various discussions on industrial financing, export capacity and policy issues of the banking sector.
Before his appointment, he was serving as managing director and chief executive officer of Hera Sweaters Limited, an export-oriented garment manufacturer.
There, he worked on strengthening financial supervision, banking relations, foreign exchange risk management, export financing and internal audit framework.
As the new governor, Mostakur Rahman has important responsibilities such as controlling non-performing loans, dealing with the liquidity crisis, restoring discipline in the financial sector and ensuring institutional accountability.
Sources hope that his long professional experience and principled position will be helpful in rebuilding stability and confidence in the country's banking sector.
