3 BB officials served show-cause notices over press conference

Three officials of Bangladesh Bank have been served show-cause notices for holding a press conference where they described central bank Governor Dr Ahsan H Mansur as "autocratic."

They have been asked to respond within 10 days, Arif Hossain Khan, executive director and spokesperson for the bank, told reporters at a regular press briefing at the Bangladesh Bank headquarters today (24 February).

Disciplinary action will be taken in accordance with the law if their explanations are found unsatisfactory, he added.

The officials are Nawshad Mustafa, general secretary of the "Nil Dal" at Bangladesh Bank and director of the SME Special Programmes Department; AKM Masum Billah, president of the Bangladesh Bank Officers' Welfare Council elected from "Nil Dal"; and Golam Mostafa Shraban, general secretary of the council.

"It is true that show-cause notices have been issued. Those whose names appeared in newspapers are on the list. They have been asked to provide explanations. If the replies are not satisfactory, necessary legal and disciplinary measures will be taken," Arif said.

When asked whether the officials had the authority to hold such a press conference, he declined to comment at the time, citing the ongoing process.

"Since show-cause notices have been issued, it would not be appropriate to comment at this stage. We will be able to speak after receiving their responses," he added.

According to sources, the three officials spoke at a hastily arranged press conference on February 16, criticising the governor over bank mergers involving EXIM Bank and Social Islami Bank and the process of granting digital bank licences.

Sources said a cross-panel alliance has recently been formed within Bangladesh Bank to press for full institutional autonomy, amendments to the Bank Company Act and promotions. Representatives from the Blue, Yellow and Green panels have joined the platform, they added.

Under the staff regulations of Bangladesh Bank, officials must obtain the governor's approval before holding press conferences, meetings, seminars or issuing public statements. Any objections against the governor or senior officials are to be raised through internal forums, not public briefings, officials concerned said.

At the February 16 press briefing, the officials challenged the board meeting agenda and alleged that the governor was rushing to grant a digital banking licence to bKash.

The documents they provided showed the board discussed eight agenda items, including the evaluation process for digital banking licences.

At the briefing, Golam Mostafa Shraban called the governor "autocratic" over several issues, including the initiative to merge Exim Bank and Social Islami Bank with struggling lenders, and the process of awarding digital bank licences.

Responding to criticism over silence on past banking sector irregularities, Masum Billah said they do not want to "carry that stigma" forward.

Meanwhile, Nawshad Mustafa said, "If the August 5 mass uprising had not occurred, we might not have spoken so openly."