First-Ever Businessman Appointed Bangladesh Governor

Bangladesh has appointed Md. Mostakur Rahman as the new Governor of Bangladesh Bank, marking an unprecedented moment in the nation’s financial history. For the first time, a professional businessman has been entrusted with the helm of the central bank, bringing extensive experience from the garment, real estate, and capital market sectors to the country’s monetary leadership.

The Ministry of Finance’s Financial Institutions Division issued a notification on Wednesday confirming his appointment for a four-year term. The decree specifies that he must sever all professional ties with other organisations prior to taking up the post, and it is effective immediately in the public interest.

This follows the interim government’s appointment of economist Ahsan H. Mansur as Governor on 14 August 2024 after the popular uprising led to the fall of the previous Awami League administration. Under Mansur’s stewardship, several banking sector reforms were initiated. However, after one and a half years, he was relieved of his duties, and his remaining tenure was officially annulled.

The incoming Governor now faces the crucial task of maintaining the continuity of banking reforms while ensuring financial stability in a challenging economic environment.

Educational and Professional Background

Md. Mostakur Rahman was born on 12 May 1966. He graduated with a B.Com (Honours) in Accounting in 1987 and completed his Master’s in 1988 from the University of Dhaka. In 1992, he earned his professional qualification as a Cost and Management Accountant (CMA) from the Institute of Cost and Management Accountants of Bangladesh (ICMAB), later becoming a Fellow Member.

He has been actively involved in several professional associations:

Business and Financial Expertise

Mostakur Rahman is a seasoned entrepreneur with over 30 years of experience across corporate finance, export economics, institutional governance, and financial systems management. He has led ventures in manufacturing, real estate, agro-based industries, and industrial enterprises. His responsibilities have included financial planning, investment oversight, governance frameworks, and contributing to economic stability dialogues.

Currently, he serves as Managing Director and CEO of Hera Sweaters Limited, overseeing corporate financing, banking relations, capital structure management, export financing, and foreign exchange exposure.

His expertise spans:

Financial Systems Governance

Banking and Industrial Finance

Export Finance and Forex Management

Institutional Risk Oversight

Corporate and Regulatory Compliance

Capital Structure and Liquidity Management

Board Governance and Fiduciary Responsibility

Strategic Economic Planning

Financial Reporting and Accountability

Stakeholder Engagement and Policy Dialogue

Sustainability and Environmental Protection

Social Contributions

Beyond finance, he is actively involved in philanthropy, supporting education for underprivileged children, providing medical assistance for chronic patients, and contributing to community health services.

Economic Impact

Analysts predict that Mostakur Rahman’s leadership will play a pivotal role in addressing inflation, strengthening foreign reserves, stabilising the banking sector, and promoting industrial investment. His appointment is expected to accelerate structural reforms and policy dialogue, bringing transparency, accountability, and institutional governance to the forefront of Bangladesh’s banking sector.

With a unique combination of entrepreneurial experience and financial acumen, his tenure marks a transformative chapter in the history of Bangladesh Bank, potentially redefining central banking leadership for the country.