Bangladesh Bank Officers’ Welfare Council Requests Delay on Board Meeting

The Bangladesh Bank Officers’ Welfare Council is calling for a postponement of today’s scheduled board meeting, expressing concerns over what they view as a rushed decision to grant controversial digital banking licenses just before a new government is formed.

During a press conference this morning at the central bank’s headquarters, representatives from the council disclosed that an emergency board meeting was organized to discuss the approval of these licenses.

Golam Mostafa Srabon, the council’s general secretary, pointed out that the swearing in of new representatives and the establishment of a new government are currently underway following the national elections on February 12.

“At this critical time, the Governor of Bangladesh Bank has called an emergency meeting to issue digital banking licenses,” he stated. He raised concerns that hurrying such decisions during this transition period could lead to questions regarding the central bank’s transparency and objectivity.

Srabon further alleged that the group under consideration for the digital banking license has historical ties to the current governor, who was previously associated with a bank linked to that group.

“It’s reasonable to conclude that this initiative might be geared towards favoring past workplaces or related entities. There seems to be a direct conflict of interest,” he remarked, reflecting the worries expressed by other central bank officials.

The council emphasized the necessity for a careful evaluation of issuing new digital banking licenses, especially considering that parts of the banking sector are currently struggling to ensure the safety of depositors’ funds.

In opposition to the board meeting aimed at granting a digital bank license, the council formally urged the governor to delay the meeting. They also requested the cancellation of any contracts, advisors, or staff appointments that were made without proper scrutiny and transparency.