The government today has appointed Md Mostaqur Rahman as the new governor of Bangladesh Bank, replacing Dr Ahsan H Mansur.

The Financial Institutions Division issued a notification at 3:30 pm confirming the appointment. Rahman will serve a four-year term from the date of his joining, subject to severing ties with all other organisations and institutions under Article 10(5) of the Bangladesh Bank Order 1972.

The appointment came hours after central bank staff demonstrated outside the Bangladesh Bank headquarters in Dhaka, demanding Mansur’s resignation. The outgoing governor left his office around noon, with reports emerging from the finance ministry that Mostaqur Rahman would succeed him.

Rahman is currently managing director of Hera Sweaters Ltd and has particular expertise in corporate finance, industrial management and institutional governance. He serves as chairman of the Bangladesh Garment Manufacturers and Exporters Association’s standing committee on Bangladesh Bank affairs and was a board member of the Chittagong Stock Exchange from 1998 to 2000.

He is also a member of key business and professional bodies including the Dhaka Chamber of Commerce and Industry (DCCI), the Real Estate & Housing Association of Bangladesh and the Association of Travel Agents of Bangladesh.

A chartered cost accountant, Rahman is a fellow member of the Institute of Cost and Management Accountants of Bangladesh (ICMAB). He completed his bachelor’s and master’s in accounting from the University of Dhaka and obtained his professional degree from ICMAB in 1992. He was born in 1966.