No governor at BB as Fazle’s tenure expires

Staff Correspondent | Published: 23:28, Jul 03,2020


The contractual appointment of Bangladesh Bank governor Fazle Kabir expired on Friday as he became 65 years old on the day.

According to the Bangladesh Bank Order 1972, no person can remain in the BB governor post after the age of 65.

Fazle Kabir’s four-year term was scheduled to expire on March 20 this year, but the tenure was extended until he becoming 65 years old.

Due to the current pandemic situation, the government, however, is trying to reappoint him by bringing in an amendment to the relevant provision.

The cabinet has recently approved a draft of the amendment to the law, but the draft amendment is yet to be placed before parliament.

Besides, finance minister AHM Mustafa Kamal is abroad.

In the meantime, the senior-most BB deputy governor, SM Moniruzzaman, will receive all mails posted to the governor and will forward them to the departments concerned, said an order issued by the central bank wing of the Financial Institutions Division of the finance ministry.

The order also said that in absence of the governor, deputy governors SM Moniruzzaman and Ahmed Jamal could make final decisions regarding their respective sectors to keep the routine official tasks going uninterrupted.

Once a new governor is appointed, the deputy governors will inform her/him about the important decisions they have made during the time the central bank ran without a governor, according to the order issued on Thursday evening.

Fazle Kabir joined the BB on March 16, 2016 as the 11th governor of the Bangladesh Bank after the resignation of Atiur Rahman.

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