In a shocking move, Bangladesh Bank Governor Mostakur Rahman—a businessman accused of defaulting on a ₹66 crore loan—has been named the new head of the country's central bank. The decision has ignited fierce backlash from opposition leaders, who slam it as "mobocracy" and a blow to institutional integrity. This comes just hours after the abrupt removal of predecessor Ahsan Habib Mansoor, fueling fears of political meddling in Bangladesh's fragile economy.
Opposition Slams 'Unacceptable' Appointment
Prominent voices are raging against the wind. Bangladesh Jamaat-e-Islami chief Shafiqur Rahman blasted the pick in a Facebook post, calling it "completely unacceptable" and pushed by the Prime Minister. "This unfortunate step at Bangladesh Bank will destabilize our economy further," he warned, urging protests for merit-based appointments over political loyalty.
National Citizen Party's Nahid Islam echoed the fury, saying Mansoor's exit "opens doors to plunder" in finance. With Bangladesh still reeling from last year's political upheaval, such controversies matter now more than ever—they threaten investor trust at a time when the nation battles inflation and currency woes.
Sudden Sacking of Ahsan Habib Mansoor
Ahsan Habib Mansoor, appointed in 2024 for a four-year term until 2028, was unceremoniously dumped without notice. He learned of it via media and denied resignation rumors. Despite accusations of "authoritarian" style—which he called a conspiracy—Mansoor delivered results in 18 months:
-
Foreign reserves jumped from $26B to $35B.
-
Taka steadied at 122.20 per USD.
-
Inflation dropped from 10.49% (2024) to 8.58% (Jan 2026).
HSBC Dhaka's Shahir Chowdhury praised him for restoring banking trust post-Sheikh Hasina's fall. Why remove a proven hand now?
Scrutiny on Loan Defaulter Mostakur Rahman's Past
Unlike past governors—bankers or economists—Mostakur Rahman is a cost accountant and MD of Hera Sweaters Ltd. Reports from bdnews24 reveal his firm missed an 86-crore taka (₹66 cr) loan repayment. Linked to BNP's Tariq Rahman, he restructured his own loans under special terms, raising red flags.
Ex-Dhaka University professor Dean Islam warns: "Appointing an active businessman as Bangladesh Bank Governor risks conflicts of interest." A senior banker questions his ability to regulate when his firm dodged repayments.
Why This Rocks Bangladesh's Economy Now
As political tensions simmer, Bangladesh Bank must stay independent amid structural challenges like reserves pressure and garment sector slumps. Without government clarification on Mansoor's exit or Rahman's loans, critics fear deeper erosion. Stay tuned—this could ripple through South Asia's markets.
