Written by The Banking Post
Parliament has removed the age limit for the governor of Bangladesh Bank, marking a significant shift in the country’s financial governance framework.
The amendment to the Bangladesh Bank Order, 1972 was passed on Friday, paving the way for appointing governors beyond the previous ceiling of 67 years. The new legislation, titled the Bangladesh Bank (Amendment) Act, 2026, keeps the governor’s tenure unchanged at four years, with the option for reappointment.
The bill was placed by Finance Minister Amir Khosru Mahmud Chowdhury and passed without any changes during the parliamentary session.
Officials said the move aims to ensure that highly experienced professionals are not excluded from the role due to age restrictions. “The existing age limit often creates obstacles in appointing capable and experienced individuals,” the statement of objectives noted.
The governor of the central bank plays a critical role in shaping monetary policy, maintaining financial stability, supervising banks, managing foreign exchange reserves and coordinating with global financial institutions—functions that demand deep expertise and experience.
A comparative review by policymakers found that many countries do not impose a maximum age limit for central bank governors, strengthening the case for removing the restriction.
The change also reflects recent policy debates. The age cap was previously raised from 65 to 67 in 2020, and discussions resurfaced in 2024 when legal barriers prevented the appointment of a senior candidate above that threshold.
With the latest amendment, authorities now have greater flexibility in selecting leadership for the central bank, as part of broader efforts to strengthen financial sector governance.
