Newly appointed governor Md Mostaqur Rahman joined office at Bangladesh Bank on Thursday morning, arriving at the headquarter around 10:40am to assume charge amid criticisms.

While entering the governor’s building, Mostaqur briefly told reporters, ‘Let me start office, we can talk later,’ and proceeded inside without further comment.

On Wednesday, the government appointed the garment industry entrepreneur Mostaqur as the central bank governor for a four-year term, replacing Ahsan H Mansur amid escalating protests by central bank officials and internal unrest at the regulator.

The BB headquarter witnessed heightened tension in recent days as a large number of officers gathered on the premises to demonstrate against Mansur’s decisions, prompting reinforced security around the governor’s building.

Mostaqur’s appointment marks the first time a businessman has been selected to lead the country’s central bank.

 The decision has drawn criticism in various quarters, with questions raised over the precedent in the context of global central banking practices.

He currently serves as managing director of Hera Sweaters Limited, an export-oriented garment manufacturer based in Narayanganj.

According to banking sources, Hera Sweaters had defaulted loans amounting to about Tk 89 crore with Mutual Trust Bank PLC. In June last year, after paying a 2 per cent down payment, the loan was rescheduled for 10 years under special consideration.

Mostaqur also chairs the Bangladesh Garment Manufacturers and Exporters Association’s standing committee on Bangladesh Bank affairs and is associated with REHAB, ATAB and the Dhaka Chamber of Commerce and Industry.

He previously served as a board member of the Chittagong Stock Exchange.

During the 13th national election held earlier this month, he was a member of the Bangladesh Nationalist Party election steering committee.

The BNP won the February 12 polls and formed the government.