Dhaka: BNP standing committee member Amir Khasru Mahmud Chowdhury today emphasized that the party has consistently refrained from making appointments to Bangladesh Bank (BB) based on political considerations. Instead, he highlighted the party’s focus on implementing major economic reforms. He made these remarks while serving as the chief guest at a seminar titled ‘The Imperative for Central Bank Independence’ held at a city hotel.
According to Bangladesh Sangbad Sangstha, the seminar was organized by the Policy Research Institute (PRI), a private research organization in Bangladesh. Amir Khasru Mahmud reiterated BNP’s commitment to the autonomy of the central bank, stressing that a robust economic structure is unattainable without the central bank’s independence. He further urged attention to legal, structural, and appointment-related issues to ensure this independence.
The seminar was presided over by PRI Vice Chairman Dr. Sadiq Ahmed, with a presentation by PRI Principal Economist Dr. Ashikur Rahman. The event featured distinguished panelists, including Abdul Hai Sarker, Chairman of the Bangladesh Association of Banks (BAB), BB Chief Economist Dr. Mohammad Akhtar Hossain, CPD Executive Director Dr. Fahmida Khatun, Syed Nasim Manzur, President of the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB), and Dr. M. Masrur Reaz, Chairman and CEO of the Policy Exchange of Bangladesh.
PRI Chairman Dr. Zaidi Sattar, in his closing remarks, advocated for a central bank that facilitates macroeconomic stability and growth-oriented policies. He acknowledged the challenges in achieving central bank independence, noting it as a significant political decision.
Dr. Akhtar Hossain suggested that while the central bank should enjoy autonomy, it should remain under governmental oversight rather than achieving full independence. Dr. Fahmida Khatun emphasized the necessity of an independent central bank and called for legislative support and its effective implementation to safeguard the financial sector’s integrity.
Dr. Nasim Manzur voiced the need for full independence of Bangladesh Bank, not just autonomy, emphasizing the role of transparent and merit-based appointments for the Governor as crucial for the institution’s effectiveness. Dr. Reaz highlighted the importance of a clearly defined monetary policy role for Bangladesh Bank, advocating for explicit legal barriers against direct government lending and underlining political will as a critical factor for successful reforms.