Six months after taking office, the BNP-led government has made no visible progress on key banking-sector reforms pledged in its election manifesto, according to the report. The government formed after the February 12 parliamentary election, and the new cabinet led by Tarique Rahman took oath on February 17. Commitments included ensuring Bangladesh Bank’s autonomy, abolishing the finance ministry’s Banking Division, ending political interference and acting against major defaulters.

The manifesto also promised an Economic Reform Commission comprising economists, researchers, experienced bankers, corporate leaders and administrators. A proposed amendment to the Bangladesh Bank Order, 1972 had earlier been drafted with IMF technical assistance and sent to the finance ministry in mid-October last year. It proposed greater independence in appointments, budgeting, financial control, staffing and policymaking.

Stakeholders say continued finance ministry influence over state-owned banks weakens central-bank oversight and creates conflict-of-interest risks. Economists argue that lasting reform requires genuine central-bank independence, accountable boards, improved loan approval and recovery systems, and banking free of political influence. CPD fellow Debapriya Bhattacharya said the government had not moved toward institutional reform in its first six months.