The Bangladesh Bank (Amendment) Bill, 2020 was placed before parliament on Wednesday to extend the age limit of the governor of the central bank to 67 years.
On behalf of finance minister AHM Mustafa Kamal, planning minister MA Mannan placed the Bill in Jatiya Sangsad and it was sent to the related parliamentary standing committee for further examination.
Now the age limit for Bangladesh Bank governor is 65 years.
According to the Bangladesh Bank Order 1972, no person can remain in the governor’s post after the age of 65 years.
On June 8, the Cabinet approved in principle the draft of the amendment extending the age limit for the governor of the central bank by two years.
Prime minister Sheikh Hasina chaired the meeting held at the Cabinet Room of the Jatiya Sangsad Bhaban.
‘According to the clause 5 of the article 10 of the Bangladesh Bank Order 1972, the tenure of the central bank governor is four years and the governor can be reappointed. But any person aged over 65 years cannot serve as governor,’ cabinet secretary Khandker Anwarul Islam told reporters after the meeting.
‘There is no maximum age limit for the governor or the deputy governors of the central bank in the neighbouring countries – India and Sri Lanka,’ Anwarul said.
Mustafa Kamal mentioned that the move to extend the age limit of the governor was taken for the implementation of the government stimulus packages by reappointing Fazle Kabir whose tenure as BB governor expired on July 3 after he became 65 years old on the day.
On March 20, 2016, the government appointed Fazle Kabir as BB governor for four years after Atiur Rahman stepped down from the post following the historic $101 million reserve heist, major portion of the money is yet to be recovered.
In February this year, Fazle Kabir was reappointed.
A lawsuit was filed with a court in the United States over the BB reserve heist during Fazle Kabir’s tenure, but it is yet to make any headway.
Fazle Kabir joined the central bank as governor after 34 years of civil service starting in 1980.
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