New BB governor assures support for reopening closed factories, reforms to continue
Bangladesh Bank’s new governor, Md Mostaqur Rahman, has assured active support for initiatives to reopen closed factories.
He made this statement during a meeting with Bangladesh Bank officials on Thursday morning, shortly after taking office.
In the meeting, Md Mostaqur Rahman said that to promote economic growth and employment, Bangladesh Bank will provide necessary policy and financial support. At the same time, ongoing reform work will continue.
After the meeting, Bangladesh Bank spokesperson Arif Hossain Khan conveyed this information to journalists, quoting the new governor.
Arif Hossain Khan said that after taking charge, the new governor held an informal meeting with the deputy governors and executive directors.
In the meeting, he mentioned that as the central bank is a regulatory institution, the new governor will exercise restraint when speaking to the media. However, regular communication will be maintained through a spokesperson to ensure a continuous flow of information.
Praising the efforts of the interim government and the previous governor to maintain overall economic stability, the new governor said the current focus is to use that stability as a foundation to revive economic momentum.
Specifically, Bangladesh Bank will strengthen policy support, facilitate necessary financing, and enhance coordination in the banking sector to restart industrial units that have been closed over the past year and a half.
He expressed hope that this will create employment and increase production.
The governor also stated that controlling inflation and keeping product prices stable in line with the purchasing power of ordinary people will be a priority. At the same time, he mentioned that high interest rates, which are creating obstacles to investment, will be reviewed and necessary steps will be taken.
To ensure institutional good governance, the governor said that decision-making processes will be fully rules-based and impartial. To accelerate work, responsibilities and decision-making powers of officials at various levels will be increased through 'delegation of authority'.
Furthermore, the governor emphasised strengthening coordination with other government regulatory agencies and the Ministry of Finance, noting that integrated measures are essential to tackle economic challenges.
Finally, the new governor called on everyone to work in unity to strengthen the country’s economy while maintaining the reputation of Bangladesh Bank.