Bangladesh Bank Appoints Md Mostaqur Rahman as Governor Under Section 10(5), Replacing Dr. Ahsan H. Mansur

Bangladesh Bank has a new governor following the government's decision to appoint Md Mostaqur Rahman, a fellow cost and management accountant (FCMA), to lead the central bank effective 25 February 2026. The appointment, made under Section 10(5) of the Bangladesh Bank Order 1972, carries a four-year term. Rahman is a businessman and the managing director of garment exporter Hera Sweaters.

Rahman's appointment follows the cancellation of the tenure of Dr. Ahsan H. Mansur by the government. Dr. Mansur, an economist who had held senior roles at the International Monetary Fund, had taken the Bangladesh Bank governorship in 2024.

APPOINTMENT MADE UNDER 1972 BANK ORDER

The legal basis for the appointment — Section 10(5) of the Bangladesh Bank Order 1972 — is the provision under which the government appoints the governor; Dr. Mansur had been appointed under the same section in August 2024.

BACKGROUND

Bangladesh's foreign exchange reserves came under pressure as import bills rose in 2022 and 2023 and remittance flows proved volatile, requiring negotiation with the IMF on a support programme that Bangladesh entered in January 2023 and which carries structural benchmarks related to exchange rate flexibility and financial sector reform.

A number of state-owned and privately-owned commercial banks carry non-performing loan ratios that remain elevated despite repeated regulatory interventions and recapitalisation exercises.