TIB flags ‘conflict of interest’ over Mostaqur’s appointment as BB governor

The anti-graft watchdog says someone who possesses necessary skills and experience should be in the post

Transparency International Bangladesh (TIB) has demanded the removal of Bangladesh Bank Governor Mostaqur Rahman, seeking instead a “skilled, experienced, and conflict-of-interest-free” individual to the post.

The local chapter of the Berlin-based Transparency International made the demand during a press conference at its Dhanmondi office on Thursday.

"It is essential to ensure that the Bangladesh Bank governor can function above all conflicts of interest," said TIB Executive Director Iftekharuzzaman.

"The appointee must have proven expertise in the relevant sector and the ability to maintain a role beyond the reach of partisan influence," he said.

Mostaqur, a garment exporter and member of the BNP’s election steering committee, was appointed on Feb 25, just a week after the new BNP government took office.

He replaced Ahsan H Mansur.

Reports have surfaced since the appointment that Mostaqur’s firm, Hera Sweaters, had a defaulted loan of Tk 860 million rescheduled by Mutual Trust Bank (MTB) only two months prior.

TIB pointed to this as a clear example of a conflict of interest for the head of the country's top regulatory body.

At the briefing, TIB presented a set of recommendations to fulfil the government’s anti-corruption pledges.

The organisation stressed that no state reform, including the BNP’s 31-point outline or the July Charter, can be realised without visible measures to prevent corruption.

"The culture of 'now it’s our turn' among the ruling party and its associates must be stopped by enforcing a zero-tolerance policy against corruption," Iftekharuzzaman added.

The anti-graft body also urged the government to enhance the capabilities of the Bangladesh Financial Intelligence Unit (BFIU) and the National Board of Revenue (NBR) to prevent money laundering.