Finance Adviser Salehuddin Ahmed said the interim government has decided not to amend the Bangladesh Bank Order, 1972, to grant full autonomy to the central bank, including ministerial status for the governor, reports Daily Sun.
In a letter sent to Bangladesh Bank Governor Dr Ahsan H Mansur on 5 February, the finance adviser said changes to a fundamental law such as the central bank order require careful consideration and broad consultations.
“Amending a fundamental law such as the Bangladesh Bank Order requires a cautious approach. Such changes demand detailed review and consultations with key stakeholders and experts,” he wrote.
Salehuddin also noted that decisions of this nature fall outside the mandate of an interim administration.
“Only a political government can take decisions on such matters,” he added.
Earlier, Bangladesh Bank had proposed a draft amendment to replace the existing 1972 order with a new Bangladesh Bank Ordinance 2025. The draft, approved by the central bank’s board, includes major changes to key appointments, the bank’s mandate and financial management, aimed at reducing political influence.
According to central bank officials, the draft ordinance has already been sent to the finance ministry for placement before the Advisory Council for final approval.
The proposed changes are broadly aligned with recommendations from the International Monetary Fund and are intended to strengthen the bank’s independence and bring its governance in line with international best practice.
Under the draft, the president would appoint the governor and deputy governors. While the initial version removed all government representatives from the board, the revised draft retains one, down from the current three.
Bd-Pratidin English/ AM
