Sadiq Ahmed resigns from Bangladesh Bank Monetary Policy Committee

Economist Sadiq Ahmed has resigned from his position as a member of the Bangladesh Bank Monetary Policy Committee (MPC), officials confirmed on Wednesday (March 4).

However, he has not disclosed the reason for his resignation. The central bank informed other committee members of his decision on March 4.

Ahmed currently serves as vice chairman of the Policy Research Institute and previously held a senior position at the World Bank.

The seven-member MPC is chaired by Governor Mostakur Rahman. Ahmed was the sole board-nominated member.

Other members include Deputy Governor Habibur Rahman, Chief Economist Akhtar Hossain, Director General of the Bangladesh Institute of Development Studies A K Enamul Haque, Chair of the Economics Department at University of Dhaka Ferdousi Nahar, and Executive Director Mahmud Salahuddin Naser.

The MPC had been scheduled to meet to discuss a reduction of the 10 percent policy interest rate amid persistent inflation. The new governor had proposed cutting the rate by 0.25 to 0.50 basis points to ease borrowing costs.

However, the meeting was abruptly postponed, and officials confirmed that Ahmed’s resignation was received prior to the rescheduled session.

The central bank did not indicate whether a new date for the rate-setting meeting will be announced.