{"id":6682,"date":"2026-02-26T03:16:57","date_gmt":"2026-02-25T21:16:57","guid":{"rendered":"https:\/\/dailyrepublicbd.com\/?p=6682"},"modified":"2026-02-26T07:37:31","modified_gmt":"2026-02-26T01:37:31","slug":"government-swiftly-removes-bangladesh-bank-governor-calls-it-routine-procedure","status":"publish","type":"post","link":"https:\/\/dailyrepublicbd.com\/?p=6682","title":{"rendered":"Government swiftly removes Bangladesh Bank governor, calls it routine procedure"},"content":{"rendered":"\n<p>The BNP-led government under Prime Minister Tarique Rahman has once again shown its swift, decisive, and uncompromising approach to prioritising national interests and cleaning up institutions by immediately removing controversial Bangladesh Bank Governor <a href=\"https:\/\/www.pri-bd.org\/member\/dr-ahsan-h-mansur\/\" target=\"_blank\" rel=\"noopener\">Dr. Ahsan H. Mansur<\/a>\u2014only days after explosive allegations of irregularities, autocratic conduct, and lack of transparency surfaced.<\/p>\n\n\n\n<p>Barely a week after assuming power following the February 12 elections, the administration acted without delay on growing complaints from inside the central bank. Senior officials, led by Bangladesh Bank Officers Welfare Council president A.K.M. Masum Billah, publicly condemned Mansur\u2019s high-handed and dictatorial style. They accused him of forcing through questionable decisions, including the purchase of an overpriced luxury Toyota Alphard vehicle (Tk2.08 crore, exceeding government limits), opaque handling of medicine supplies at the medical centre, secretive injection of Tk22,500 crore in newly printed notes into troubled banks with minimal disclosure, and suspicious approvals of large loans and digital bank licenses without adequate oversight or government approval.<\/p>\n\n\n\n<p>These serious charges\u2014spread through viral Facebook posts and supported by staff protests\u2014portrayed a governor more focused on personal whims and secrecy than on institutional integrity, leading to internal chaos, punitive transfers of dissenting officers, and deep distrust across the already fragile banking sector.<\/p>\n\n\n\n<p>In a clear demonstration of responsiveness and resolve, the government refused to protect or delay action against this holdover from the previous Yunus interim regime.<\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6621\">Central bank governor faces criticism over authoritarian style, lack of transparency<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=953\">Inside BB governor\u2019s $3.7m lavish flat in Palazzo Versace Dubai<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6526\">Debapriya\u2019s call for audit into deals under Yunus regime gains momentum<\/a><\/p>\n\n\n\n<p>On Wednesday, the Finance Ministry\u2019s Financial Institutions Division issued rapid gazette notifications: one immediately cancelling the remaining portion of Mansur\u2019s four-year term (originally due to continue until 2028) \u201cin the public interest,\u201d and another appointing Md. Mostaqur Rahman\u2014a seasoned financial governance specialist and entrepreneur\u2014as the new governor for a fresh four-year term.<\/p>\n\n\n\n<p>Rahman was a member of the BNP\u2019s election steering committee for the 13th national election.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-policy-research-institute wp-block-embed-policy-research-institute\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"F0drA0md4m\"><a href=\"https:\/\/www.pri-bd.org\/member\/dr-ahsan-h-mansur\/\" target=\"_blank\" rel=\"noopener\">Dr. Ahsan H. Mansur<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Dr. Ahsan H. Mansur&#8221; &#8212; Policy Research Institute\" src=\"https:\/\/www.pri-bd.org\/member\/dr-ahsan-h-mansur\/embed\/#?secret=ZwAU2ZjkwY#?secret=F0drA0md4m\" data-secret=\"F0drA0md4m\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><strong>Minister Defends Move As Standard Practice<\/strong><\/p>\n\n\n\n<p>Finance Minister Amir Khasru Mahmud Chowdhury described the change as a completely normal and necessary procedure for any new government.<\/p>\n\n\n\n<p>\u201cA new government has come. Priorities exist. Changes are happening not just at Bangladesh Bank but across many places\u2014it\u2019s normal and will continue where needed,\u201d he stated.<\/p>\n\n\n\n<p>He stressed that new administrations must align key institutions with their own policies, programs, and reform vision, and that such adjustments ensure the BNP\u2019s agenda is implemented effectively without resistance from bureaucratic holdovers or outdated appointees.<\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6414\">Chaos, Capitulation, Corruption: Yunus\u2019 559-day jihadist nightmare<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6385\">Digital Bank Scandal: Yunus regime\u2019s last-minute push halted<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6352\">Faiz Ahmad Taiyeb resigns amid swirling corruption scandals, flees Bangladesh<\/a><\/p>\n\n\n\n<p>This prompt action sharply contrasts with the delays, inertia, and cover-ups seen under previous regimes. By decisively removing Mansur amid legitimate public and internal outcry and installing new leadership, the BNP government has sent a powerful signal: no one is untouchable, and critical reforms will not be obstructed by problematic figures.<\/p>\n\n\n\n<p>However, the appointment of Mostaqur Rahman has drawn criticism for reflecting the government\u2019s ongoing pattern of favouritism and nepotism in key postings.<\/p>\n\n\n\n<p><strong>Mass Transfers<\/strong><\/p>\n\n\n\n<p>In a parallel major reshuffle, Bangladesh Bank transferred five officials at once, including four directors and one additional director.<\/p>\n\n\n\n<p>The order was issued on Wednesday by the bank\u2019s Human Resources Department-1 (HRD-1) and took immediate effect.<\/p>\n\n\n\n<p>The transfers include:<\/p>\n\n\n\n<p>&#8211; Md. Bayezid Sarkar (Director, Banking Regulation and Policy Department-1) was assigned as Officer-in-Charge Executive Director (Currency) at the Motijheel office.<\/p>\n\n\n\n<p>&#8211; Gazi Md. Mahfuzul Islam (Officer-in-Charge, Executive Director (Currency), Motijheel) transferred to the Banking Regulation and Policy Department-1.<\/p>\n\n\n\n<p>&#8211; Md. Zabdul Islam (Human Resources Department-1) moved to the Financial Institutions Inspection Department.<\/p>\n\n\n\n<p>&#8211; Md. Shahid Reza (Financial Institutions Department) transferred to the Human Resources Department-1.<\/p>\n\n\n\n<p>&#8211; Md. Kamrul Islam (Additional Director, Governor\u2019s Office) transferred to the Sadarghat office.<\/p>\n\n\n\n<p>The directive explicitly stated that all orders were effective immediately.<\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6189\">Ashik Chowdhury: The sham investment czar faces media bashing<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6182\">Prothom Alo exposes Yunus regime\u2019s discriminatory, mindless project spree<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6161\">The Greedy Despot: Sk Bashir Uaddin\u2019s shameless plunder of the aviation sector<\/a><\/p>\n\n\n\n<p><strong>Mob Attack On Governor\u2019s Adviser<\/strong><\/p>\n\n\n\n<p>Rumours of an impending new governor appointment triggered unrest at the Bangladesh Bank on Wednesday. After outgoing Governor Dr. Ahsan H. Mansur left the office following a press conference, tension escalated inside the building. Officers then forcibly expelled the governor\u2019s adviser, Ahsan Ullah, from the premises.<\/p>\n\n\n\n<p>The incident took place around noon. Sources reported that once news of the governor\u2019s departure spread, leaders of the Bangladesh Bank Officers Welfare Council\u2014who were present\u2014voiced strong anger. They eventually ordered Ahsan Ullah to leave his room. As the atmosphere grew heated, he was seen hurriedly leaving the building.<\/p>\n\n\n\n<p>Eyewitnesses said that while the adviser was entering his car, one person tried to rush toward him aggressively. Other officers present intervened to restrain the individual, who was also seen pointing fingers and issuing threats in a hostile manner.<\/p>\n\n\n\n<p>Ahsan Ullah, a former executive director, had been appointed as an adviser on a one-year contract in January of the previous year. His primary responsibility was to support the governor in carrying out ongoing banking sector reforms.<\/p>\n\n\n\n<p>Extra security measures were reportedly put in place afterwards to restore normalcy inside the central bank.<\/p>\n\n\n\n<p><strong>Seven Serious Allegations Against Ahsan H. Mansur<\/strong><\/p>\n\n\n\n<p>The Bangladesh Bank Officers Welfare Council has formally accused former Governor Ahsan H. Mansur of multiple instances of administrative irregularities, financial rule violations, and conflicts of interest\u2014actions they say severely undermine the central bank\u2019s prestige and governance standards.<\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=6135\">Sex Scandal: The deep-rooted romance between Yunus and DP World CEO via Epstein<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=5959\">Pro-regime Daily Star questions Yunus\u2019 last-minute deals sans accountability<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/dailyrepublicbd.com\/?p=5937\">Yunus\u2019 Chittagong Fetish: 42% of development projects planned for port city<\/a><\/p>\n\n\n\n<p>In a letter to the governor, the council listed seven specific allegations and demanded the formation of a high-powered, impartial investigation committee drawn from members of the Board of Directors.<\/p>\n\n\n\n<p>BFIU Money Laundering Allegations<\/p>\n\n\n\n<p>The governor allegedly directed regular sharing of sensitive frozen account information from the secretariat to the Bangladesh Financial Intelligence Unit (BFIU). Despite no provision for storing such data in the governor\u2019s office, it is claimed the information was leaked to a syndicate via family members and the private secretary. In return, monetary dealings allegedly took place to reactivate frozen accounts, violating the Money Laundering Prevention Act.<\/p>\n\n\n\n<p>Irregularities in Luxury Vehicle Purchase<\/p>\n\n\n\n<p>A luxury Toyota Alphard worth nearly Tk2 crore was bought in violation of government austerity measures and the eight-year vehicle replacement rule. An existing operational vehicle was already available for the governor, yet proper public procurement rules (PPR) were bypassed and state-owned Pragati Industries was ignored.<\/p>\n\n\n\n<p>Allegations Of Using Four Vehicles<\/p>\n\n\n\n<p>While the governor\u2019s contract permits only two vehicles, four vehicles are allegedly under family control, with fuel and maintenance expenditures exceeding approved limits.<\/p>\n\n\n\n<p>Withdrawal Of PS Allowance<\/p>\n\n\n\n<p>An additional director serving as the governor\u2019s private secretary receives a Tk50,000 monthly car maintenance allowance, despite using an official vehicle\u2014an unauthorised financial perk.<\/p>\n\n\n\n<p>Conflict Of Interest In Digital Bank Licenses<\/p>\n\n\n\n<p>Due to prior business connections, the governor allegedly rushed to award digital bank licenses to a particular group, disregarding single-group ownership restrictions under the Bank Companies Act. The process was halted only after objections from officers during board meetings.<\/p>\n\n\n\n<p>Misuse Of Medical Facilities<\/p>\n\n\n\n<p>Despite sufficient stock at the bank\u2019s medical centre, fake \u201cno-stock\u201d slips were used to buy medicines externally and withdraw funds via fabricated bills.<\/p>\n\n\n\n<p>Questions on CSR Fund Usage<\/p>\n\n\n\n<p>Donations from the central bank\u2019s CSR fund to Nilphamari Government High School, Chuadanga\u2019s Khalil-Malik Foundation, and a girls\u2019 school in Tangail lacked transparency and violated policy guidelines. Personal connections in these grants are cited as clear conflicts of interest.<\/p>\n\n\n\n<p>Demand For Investigation<\/p>\n\n\n\n<p>The council emphasised that these allegations tarnish the central bank\u2019s image and insisted on a robust, independent probe committee involving board members.<\/p>\n\n\n\n<p>Since assuming office on August 14, 2024, Dr. Mansur had been active in restoring discipline, controlling non-performing loans, strengthening supervision, and driving policy reforms. He took tough positions on restructuring weak banks, replacing boards, and enhancing internal monitoring\u2014earning praise from reform advocates but resentment from sections of the banking industry.<\/p>\n\n\n\n<p>He was the founder director and executive director of the Policy Research Institute of Bangladesh before joining the central bank.<\/p>\n\n\n\n<p>Recently, officers branded him \u201cautocratic,\u201d leading to show-cause notices against three staff members and several transfers\u2014moves that fueled intense debate in banking circles. The governor\u2019s removal came shortly after.<\/p>\n\n\n\n<p><strong>Who Is The New Governor?<\/strong><\/p>\n\n\n\n<p>Md. Mostaqur Rahman is a garment businessman whose own company received a massive Tk89 crore loan <a href=\"https:\/\/www.thedailystar.net\/business\/news\/new-bangladesh-bank-governor-had-tk-89cr-loans-rescheduled-appointment-4115006\" target=\"_blank\" rel=\"noopener\">rescheduling <\/a>just weeks before his appointment. <\/p>\n\n\n\n<p>He is a certified cost and management accountant. He is a chartered accountant from the Institute of Cost and Management Accountants of Bangladesh. He earned his bachelor&#8217;s and master&#8217;s degrees in accounting from the University of Dhaka.<\/p>\n\n\n\n<p>He has been associated with the export-oriented garment industry for a long time and has been active in the activities of industry organisations, especially the Bangladesh Garments Manufacturers and Exporters Association (BGMEA). He also served on the board of directors of the Chittagong Stock Exchange Limited in the past.<\/p>\n\n\n\n<p>In this context, the debate has begun over whether the appointment of an active industrialist to the top position of a regulatory institution like the central bank would create a conflict of interest.<\/p>\n\n\n\n<p>Mutual Trust Bank rescheduled Tk89 crore in stressed loans for Hera Sweaters Ltd, a garment exporter owned by the new governor, with a 10-year repayment facility with a two-year grace period in December last year under the central bank\u2019s special loan rescheduling policy.<\/p>\n\n\n\n<p>The facility was meant for firms hit by factors beyond their control, including political unrest, currency volatility, and an economic slowdown. Documents seen by The Daily Star show Hera Sweaters had sought a 15-year rescheduling facility with a two-year grace period and a lower interest rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BNP-led government under Prime Minister Tarique Rahman has once again shown its swift, decisive, and uncompromising approach to prioritising national interests and cleaning up institutions by immediately removing controversial&hellip; <\/p>\n","protected":false},"author":4,"featured_media":6683,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,43,646,1207,20,42],"tags":[163,202,46,130,1689,1714,50,65,56,64],"class_list":["post-6682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-crime","category-culture","category-emergency","category-news","category-politics","tag-anti-corruption-commission-acc","tag-bangladesh-bank","tag-bnp","tag-corruption","tag-dr-ahsan-h-mansur","tag-imf","tag-interim-government","tag-mobocracy","tag-muhammad-yunus","tag-yunus-gang"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/posts\/6682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6682"}],"version-history":[{"count":2,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/posts\/6682\/revisions"}],"predecessor-version":[{"id":6698,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/posts\/6682\/revisions\/6698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=\/wp\/v2\/media\/6683"}],"wp:attachment":[{"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrepublicbd.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}