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Thursday, July 9, 2020

Bill placed in JS to raise BB governors' age limit to 67 years

Business Desk :
The Bangladesh Bank (Amendment) Bill, 2020 has been placed in Parliament to extend the age limit of the governor of the central bank to 67 years.
Planning Minister MA Mannan, in absence of Finance Minister AHM Mustafa Kamal, placed the Bill in the House on Wednesday and it was sent to the respective scrutiny committee for further examination.
Currently, the age limit is 65 years for the Bangladesh Bank governors. According to the Bangladesh Bank Order 1972, no person can remain in the governor post after the age of 65 years.
The initiative has been taken to abolish the provision, related to the age ceiling for the governors of Bangladesh Bank, in the clause-5 of the Article 10 of the Bangladesh Bank Order 1972 for the public interest.

According to the Bill, since the 65-year age ceiling is fixed, it is not possible to consider many qualified candidates for the post of governor, despite having relevant expertise and experiences in the financial sector.

And it is not even possible to reappoint someone who may have been serving in that position, and doing so with distinction, once he or she crossed the age of 65