The government on Wednesday appointed Md Mostakur Rahman as the new Governor of Bangladesh Bank for a four-year term, cancelling the remaining tenure of Dr Ahsan H Mansur with immediate effect.

According to separate notifications issued by the Financial Institutions Division of the Ministry of Finance, the appointment has been made under Article 10(5) of the Bangladesh Bank Order, 1972 (President’s Order No. 127 of 1972).

The notification said Mostakur Rahman will serve as Governor of Bangladesh Bank for four years from the date of his joining, subject to relinquishing all employment relationships with other institutions and organisations.

During his tenure, he will draw salary, allowances and other benefits from Bangladesh Bank in accordance with the terms of a contract to be signed with the government.

Other conditions of his appointment will also be determined by the contract, the notification added.

The order appointing Mostakur Rahman took immediate effect.

In a separate notification, the Financial Institutions Division said the remaining tenure of Dr Ahsan H Mansur as Governor of Bangladesh Bank has been cancelled.

Dr Mansur had earlier been appointed as Governor through a notification issued on 13 August 2024.

The cancellation order has also been issued in the public interest and came into force immediately, the notification said.