The Bangladesh Bank Officers’ Welfare Council has called on the interim government to amend the Bangladesh Bank Order 1972. The council aims to ensure the central bank’s full autonomy by granting it administrative, operational, and financial independence.

This demand was formally presented in a memorandum submitted to the interim government’s finance adviser yesterday.

In a press conference held at the Bangladesh Bank headquarters in Dhaka, council leaders, including acting president Tanveer Ahmed and general secretary AKM Masum Billah, detailed their demands.

The key proposal centered around the dissolution of the Financial Institutions Division of the finance ministry, which the council believes will eliminate potential conflicts of interest and reduce dualism in the banking sector.

The council emphasized the need for amendments to relevant laws, rules, and regulations to restore good governance in the banking and financial sectors.

They stressed that the central bank should operate free from political interference or influence, allowing it to concentrate on core responsibilities such as managing interest and exchange rates and overseeing the licensing of banks and other financial institutions.

Among the structural reforms proposed, the council recommended changes to the composition of the central bank’s board of directors and advocated for making the governor’s position a constitutional post. They argued that individuals appointed as governors should be given full ministerial status, with priority given to renowned economists or experienced central bank officials.

Additionally, the council sought to regularize the posts of deputy governor and the head of the Bangladesh Financial Intelligence Unit (BFIU), converting these roles from contractual appointments to permanent positions.