The decision to appoint a cost accountant holding an FCMA (Fellow of the Chartered Institute of Management Accountants) degree in cost management and a businessman as governor of Bangladesh Bank has naturally sparked widespread discussion. The question of whether the government is truly giving the highest priority to reforming the banking sector is now being raised not only within policymaking circles but also among common people.

The central bank is not merely an institution that formulates monetary policy; it is the chief regulator and supervisory authority of the country’s financial system and the ultimate guarantor of financial stability. Who leads such an institution, what his professional background is, and how independently he will be able to perform his duties are therefore important questions, especially at a time when the banking sector faces multiple challenges.