Bangladesh has witnessed a historic first with the appointment of Md. Mostakur Rahman, a seasoned businessman, as the new Governor of Bangladesh Bank. His selection marks an unprecedented move, making him the first private-sector entrepreneur to assume the leadership of the country’s central bank.
The Ministry of Finance’s Financial Institutions Division issued a notification on Wednesday, formally granting him a four-year term. The order stipulates that he must sever all professional ties with other organisations prior to joining the central bank. The directive emphasises that the appointment is effective immediately in the public interest.
Previously, following the 2024 popular uprising and the fall of the Awami League government, the interim administration had appointed economist Ahsan H. Mansur as Governor on 14 August 2024. Under Mansur’s stewardship, significant banking sector reforms were initiated. However, after a tenure of one and a half years, the Financial Institutions Division issued a separate order removing him and cancelling the remainder of his term, paving the way for Md. Mostakur Rahman’s appointment.
The new Governor faces the dual challenge of maintaining the momentum of ongoing banking reforms and ensuring overall financial stability.
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Academic and Professional Credentials
Born on 12 May 1966, Md. Mostakur Rahman graduated from the University of Dhaka with a B.Com (Honours) in Accounting in 1987, followed by a Master’s degree in 1988. In 1992, he qualified as a Cost and Management Accountant (CMA) from the Institute of Cost and Management Accountants of Bangladesh (ICMAB) and later became a fellow member.
Key Professional Engagements
He has held significant positions across various trade and industry bodies:
| Organisation | Role |
|---|---|
| BGMEA (Bangladesh Garment Manufacturers & Exporters Association) | Member, Committee Positions |
| REHAB (Real Estate & Housing Association of Bangladesh) | Member, Committee Positions |
| ATAB (Association of Travel Agents of Bangladesh) | Member |
| DCCI (Dhaka Chamber of Commerce & Industry) | Member, Key Committees |
| Chittagong Stock Exchange | Regulatory Committee Advisor |
With over 30 years of experience, he is recognised as a senior financial management expert with expertise in corporate finance, export economics, institutional governance, and financial systems management.
Business Leadership and Social Contributions
Md. Mostakur Rahman currently serves as Managing Director and CEO of Hera Sweaters Limited, a major export-oriented enterprise. His career spans manufacturing, real estate, agro-based industries, and industrial ventures. He has extensive experience in financial planning, investment oversight, corporate governance, export finance, and foreign currency management.
He is also actively engaged in social initiatives, supporting education for underprivileged children, medical assistance for long-term patients, and healthcare services for vulnerable communities.
Areas of Expertise
Financial Systems Governance & Banking Oversight
Export Economics & Foreign Exchange Management
Corporate and Regulatory Compliance
Strategic Economic Planning & Stakeholder Engagement
Sustainability and Environmental Protection
Analysts suggest that his leadership will enhance transparency, accountability, and institutional governance, accelerating ongoing banking reforms and fostering financial stability. Under his guidance, Bangladesh Bank is expected to strengthen policy dialogue, industrial finance, and structural reforms in the financial sector.