New Bangladesh Bank Governor Md. Mostaqur Rahman has outlined a strategic vision to transition the national economy from "low-level equilibrium" to investment-driven growth.
On his first day in office, a day after his appointment, the new Governor held a meeting with deputy governors and executive directors at Bangladesh Bank to outline his vision and priorities.
The Governor emphasised maintaining macroeconomic stability while steering the economy towards inclusive growth, central bank spokesperson Arief Hossain Khan told reporters after the meeting.
The governor said while the interim government has brought the economy out of a "fragile state" to a level of stability, the current challenge is to ensure macroeconomic stability while fostering growth that creates jobs, he said.
He said the Governor issued an 11-point directive to senior management to guide the central bank's future operations:
1.Macroeconomic Stability: Maintaining stability while simultaneously driving economic growth.
2. Inclusive Growth: Ensuring growth is inclusive to maximize employment generation.
3. Industrial Revival: Taking steps to reopen closed factories and commercial enterprises to inject momentum into the economy.
4. Interest Rate Review: Evaluating the issue of high interest rates to encourage increased investment.
5. Inflation Control: Prioritising price stability and keeping inflation under control.
6. Good Governance: Ensuring transparency and accountability across the banking sector.
7. Objective Decision-Making: Moving toward objective-based results in all policy decisions.
8. Rule-Based Management: Implementing a strict rule-based management system within the central bank.
9. Delegation of Authority: Increasing the delegation of authority to enhance work speed and efficiency.
10. Institutional Coordination: Working in close coordination with other government agencies.
11. Image Restoration: Upholding and enhancing the professional image and prestige of Bangladesh Bank.