Newly appointed Bangladesh Bank Governor Md Mostaqur Rahman has unveiled an ambitious 11-point roadmap aimed at transforming the country’s economy from what he described as a “low-level equilibrium” into a dynamic, investment-led growth model.
On his first day in office – just a day after his appointment – the Governor convened a high-level meeting with deputy governors and executive directors at the central bank’s headquarters to lay out his strategic priorities and policy direction.
Briefing reporters after the meeting, Bangladesh Bank spokesperson Arif Hossain Khan said the Governor underscored the dual challenge facing the economy: safeguarding macroeconomic stability while accelerating growth that generates employment.
According to officials, the Governor observed that while the interim government has succeeded in pulling the economy out of a “fragile state” and restoring a degree of stability, the next phase requires shifting the focus from stabilisation to expansion – without compromising fiscal and monetary discipline.
11-point reform drive
To guide the central bank’s operations, the Governor issued an 11-point directive to senior management, signalling a blend of continuity and reform.
At the top of the agenda is maintaining macroeconomic stability – keeping inflation in check, stabilising financial markets, and ensuring exchange rate discipline – while simultaneously creating conditions conducive to higher investment and sustained growth.
He placed strong emphasis on inclusive growth, stressing that economic expansion must translate into tangible employment opportunities. Reviving shuttered factories and dormant commercial enterprises was identified as a key step to re-energise industrial output and stimulate job creation.
Recognising investor concerns, the Governor directed a review of high interest rates to determine whether adjustments could help spur private sector investment without fuelling inflationary pressures.
Price stability remains a central priority. The Governor called for strengthened efforts to control inflation, acknowledging its direct impact on household purchasing power and overall economic confidence.
Governance, efficiency and institutional image
Beyond macroeconomic management, the Governor’s roadmap highlights institutional reforms within the central bank itself.
He stressed the need for enhanced transparency and accountability across the banking sector, reinforcing good governance practices to restore public trust. Policy decisions, he said, must be objective-driven and measurable, reducing discretionary ambiguity.
A strict rule-based management framework will be implemented to ensure consistency and predictability in regulatory oversight. At the same time, greater delegation of authority within the institution is expected to speed up decision-making and improve operational efficiency.
The Governor also emphasised close coordination with other government agencies to align monetary, fiscal and industrial policies – an approach seen as crucial for achieving investment-led growth.
Finally, he called for upholding and strengthening the professional image and prestige of Bangladesh Bank, signalling a commitment to reinforcing the central bank’s credibility at home and abroad.
With this comprehensive 11-point agenda, the new Governor has set a clear tone: moving beyond crisis management toward a phase of disciplined expansion, investment mobilisation and institutional reform.
With inputs from UNB