Bangladesh Bank has taken a major internal reform move by hiring an international human resource consulting firm to modernise its organisational structure, streamline management, and align its human capital strategy with international standards.
The central bank issued a request for expressions of interest on October 20, inviting qualified international firms to submit proposals by November 10, 2025.
The initiative was the first large-scale human resource reform effort undertaken by Bangladesh Bank.
According to the notice, the central bank 鈥� which oversees the country鈥檚 monetary and credit policy, supervises banks and financial institutions, manages international reserves, and handles currency and payment systems 鈥� aims to strengthen institutional efficiency through a comprehensive HR transformation.
The reform plan was taken to modernise internal systems, promote efficiency, and restore credibility after years of mismanagement, political interference, and weak governance.
The move comes at a time when the central bank faces criticism for failing to contain banking irregularities, rising loan defaults, and declining investor confidence in the financial system.
The selected consultant will be responsible for reviewing and redesigning Bangladesh Bank鈥檚 organogram, developing a transparent performance management system, updating hiring and promotion policies, and formulating modern training and career development strategies.
The firm will also conduct a skill audit, assess training needs, and recommend a comprehensive capacity-building framework for staff to adapt to emerging technologies and global banking practices.
The reform initiative is expected to bring a cultural shift within the institution 鈥� from bureaucratic rigidity to performance-driven professionalism.
Economists have long argued that the effectiveness of Bangladesh Bank depends not only on legal autonomy but also on its ability to recruit, train, and retain competent professionals capable of implementing monetary and regulatory reforms.
According to the notice, the consultant will be selected through a Quality- and Cost-Based Selection process under the Public Procurement Rules 2025, with both local and international experts expected to be part of the team.
The reform process is expected to be completed within one year of contract signing.
