Former Bangladesh Bank Governor Dr. Ahsan H. Mansur on Thursday called for the immediate implementation of proposed amendments to the Bank Company Act to ensure discipline and restore confidence in the country's troubled financial sector.
Sharing his immediate reactions to the national budget proposed for FY 2026-27, the former central bank chief emphasized that concrete structural reforms, rather than mere promises, are essential to dismantle single-family or concentrated control over commercial banks.
"We previously proposed amendments to the Bank Company Act to limit the tendency of families to maintain excessive control over commercial banks. If these amendments are implemented, we will know that the government is genuinely sincere about reducing single or concentrated ownership. We want to see these reforms materialize," Dr. Mansur said.
Highlighting the critical issue of external interference in the banking sector, the noted economist stressed that the independence of the central bank must be safeguarded through legislative backing.
He disclosed that a draft proposal aimed at bolstering the autonomy of Bangladesh Bank had been submitted to the government and remains under consideration. He credited the current Adviser on Economic Affairs, Dr. Rashed Al Mahmud Titumir, with contributing significantly to refining the draft during his tenure on the Bangladesh Bank board.
"If this revised draft is approved, Bangladesh Bank will become truly independent, and only then can we effectively eliminate external interference. Interference will not stop on its own," he noted.
Dr. Mansur also raised questions regarding the status of the Financial Institutions Division (FID), pointing out a mismatch between government pledges and the ground reality.
"The government had previously talked about abolishing the FID, and the Finance Minister himself expressed this intention. However, the division continues to function with full authority. If the government is truly committed to reducing state intervention, it should move forward with this crucial institutional reform," he stated.
Warning that the ongoing economic uncertainties are largely self-inflicted, the former governor stressed that only visible, decisive actions can rebuild public trust and bring order back to the financial landscape.
"This is not a matter of personal disputes or political rivalry; it is an issue of supreme national interest. All political issues can be resolved through dialogue, and this crisis too can be resolved based on mutual discussion and consensus," Dr. Mansur said, urging the newly elected administration to prioritize the interests of commercial banks, ordinary depositors, and the national economy.