The Bangladesh Bank Officers' Welfare Council has issued a seven-point demand to the authorities, calling for comprehensive legal reforms to establish the full autonomy of the central bank.

The demands were formally presented during a press conference held at the central bank’s headquarters on Thursday (February 5).

The council emphasized that the ‘Bank Company Act-1991,’ and other related regulations must be amended to ensure the central bank can function independently and enforce good governance across the financial sector.

"To ensure an effective and independent role for the central bank, reforming the legal framework is essential," said in the briefing.

The seven-point charter includes several critical administrative and policy changes. Such as-

Cancellation of Contractual Appointments: The Council demanded the immediate termination of all advisors, consultants, and officials appointed on a contractual basis without transparent recruitment or proper evaluation.

Institutional Protection: Ensuring legal and professional protection for officials who face harassment while performing their official duties.

Promotion and Recruitment: Resolving the existing stagnation in the recruitment and promotion process for regular central bank staff.

Focused Leadership: Ensuring the Governor devotes active time and attention specifically to the policy and interests of Bangladesh Bank.

Curbing Misleading Statements: Urging officials to refrain from making inconsistent or whimsical remarks to the media regarding central banking policies.

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Golam Mostafa Srabon, General Secretary of the Officers' Welfare Council, noted that these demands are not new. A memorandum was first submitted to the Interim Government’s Finance Adviser, Dr. Salehuddin Ahmed, in August 2024.

The Council followed up with the Governor on November 5 and again on December 23 of last year, specifically highlighting the need to cancel unnecessary contractual appointments. Despite repeated requests, the Council claims significant action has yet to be taken.