Bangladesh Bank Governor Mostakur Rahman has called for ensuring full independence and protection for Shariah boards in all Islamic banks. Speaking at a recent exchange meeting at the central bank’s headquarters, he emphasized that no obstacles should hinder the boards’ activities and that the central bank will guarantee their security. The meeting, organized by the Islamic Banking Regulation and Policy Department, brought together top Shariah scholars, advisory board members, and senior officials to discuss the current state, challenges, and future direction of Islamic banking.

The governor noted that past money laundering incidents in the Islamic banking sector were partly due to inadequate oversight. He stressed that empowering Shariah boards and prioritizing their guidance would help restore effective supervision and prevent political influence in banking operations. Participants at the meeting underscored the need to strengthen supervisory committees, secretariats, and audit systems, and to ensure legal independence for these bodies.

Speakers also proposed mandatory Shariah knowledge for bank directors and executives, annual external audits, and the introduction of Shariah compliance ratings to enhance transparency and public trust in the sector.