The Bangladesh Bank Officers Welfare Council on Thursday urged the interim government to amend the Bangladesh Bank Order 1972 to ensure complete autonomy of the central bank.
The council submitted a memorandum to the government’s finance adviser, outlining its demands.
During a press conference at the central bank headquarters in the capital, the council’s leaders elaborated on their proposals.
The council’s general secretary AKM Masum Billah read a statement emphasising the need to abolish the Financial Institutions Division of the finance ministry to eliminate conflicts of interest and dual control in the banking sector.
The council demanded autonomy for the central bank in administrative operations, financial decisions, and expenditures.
They also called for structural reforms of board of directors, designation of the Bangladesh Bank governor as a constitutional post with full ministerial status and the appointment of renowned economists or senior central bank officials as governors.
They further suggested that the positions of deputy governor and head of the Bangladesh Financial Intelligence Unit be converted into permanent posts with senior secretary status.
Additionally, the council urged reforms in laws and regulations to restore good governance and accountability in the banking and financial sectors.
They stressed the importance of keeping the central bank free from political interference, particularly in decisions concerning interest rates, exchange rates and the licencing of banks or financial institutions, to better serve the public interest.
Acting president of the council Tanvir Ahmed was also present at the event.
