Transparency watchdog Transparency International Bangladesh (TIB) has raised serious concerns over the recent appointment of a new governor to Bangladesh Bank, alleging that the decision may involve significant conflicts of interest. The anti-corruption organisation has urged the government to reconsider and potentially revoke the appointment in order to safeguard the integrity and independence of the country’s central bank.
Speaking at a press conference held at the TIB office in Dhanmondi, Dhaka, on Thursday morning, the organisation’s Executive Director, Iftekharuzzaman, warned that the presence of strong conflicts of interest could undermine the credibility of the institution responsible for overseeing Bangladesh’s financial sector. The briefing was arranged primarily to present a series of governance and policy recommendations to the newly formed government.
According to Iftekharuzzaman, Bangladesh Bank plays a critical role as the regulator and supervisor of the national banking and financial system. If the individual appointed to lead the institution is linked to conflicting interests or past financial controversies, the central bank’s independence and regulatory effectiveness could be severely compromised.
He stated that the matter goes beyond a routine administrative decision. “When someone with alleged links to controversial financial activities or influential business groups is placed at the helm of the country’s central bank, the implications extend far beyond bureaucracy. It risks weakening financial discipline and good governance at the national level,” he said.
During the press conference, journalists also questioned whether the appointment might be connected to the potential return of controversial businessman Mohammad Saiful Alam, widely known as S Alam. Responding to the query, Iftekharuzzaman noted that if any attempt were made to benefit particular business interests through such appointments, the issue would become even more alarming. In such circumstances, he said, the government should conduct an impartial investigation to determine whether undue influence played a role.
He further warned that the re-emergence of individuals or corporate groups previously associated with alleged financial irregularities could damage public confidence in the country’s financial governance. Ensuring transparency and accountability in the appointment of key officials—particularly the governor of Bangladesh Bank—is therefore essential.
The TIB chief also commented on a broader administrative trend in Bangladesh, describing a longstanding culture of politically motivated transfers and reshuffles in public administration. Referring to what he called the “now it is our turn” mentality, he cautioned that such practices weaken institutional stability and professionalism within the civil service. If the new government fails to address this issue, he added, it could ultimately undermine its own reform agenda.
While acknowledging that some recent government initiatives have generated optimism among citizens, Iftekharuzzaman also highlighted several developments that have raised concerns. These include a controversial remark by a minister regarding alleged extortion, questions surrounding the central bank’s leadership appointment, and uncertainty created by the resignation of the chairman and commissioners of the Anti-Corruption Commission.
The organisation summarised its key concerns in the following overview:
| Issue | TIB’s Concern | Possible Consequences |
|---|---|---|
| Appointment of Bangladesh Bank Governor | Allegations of conflict of interest | Potential erosion of central bank independence |
| Influence of controversial business groups | Re-emergence of figures linked to past financial irregularities | Weakening of financial discipline and regulatory oversight |
| Forced administrative reshuffles | “Now it is our turn” political culture | Institutional instability and weakened governance |
| Uncertainty in Anti-Corruption Commission leadership | Resignations and ongoing controversy | Reduced effectiveness of anti-corruption efforts |
In conclusion, TIB emphasised that the new government stands at a critical crossroads. While there is a genuine opportunity to implement meaningful governance reforms, there are also significant risks if transparency and accountability are not prioritised. The organisation therefore urged authorities to ensure that major appointments—particularly those affecting key financial institutions—are conducted with the highest standards of integrity, neutrality and public accountability.