Under pressure from protests, Bangladesh central bank governor and stock exchange chief resign | Economy

Bangladesh Bank Governor Abdul Rauf Talukder and Chief Justice Obaidul Hasan have resigned days after the overthrow of Sheikh Hasina's government, following pressure from protesters demanding their resignations, local media reported.

The financial adviser to the new interim government in Bangladesh, Saleh Uddin Ahmed, said that Talukder resigned the day before yesterday and left his post two years before the end of his term.

The resignations come after massive protests forced Prime Minister Sheikh Hasina to flee the country earlier this week, with protesters entering the headquarters of Bangladesh Bank in the capital, Dhaka, demanding that officials resign.

Protesters on Saturday demanded the resignation of all six remaining Supreme Court judges.

interim government

Bangladesh has formed an interim government headed by Nobel laureate Muhammad Yunus, after weeks of violent street protests that have killed more than 400 people since July, according to local media.

Talukder, 60, took office in July 2022 when the country was facing a depreciating currency and high inflation, and has been repeatedly criticised for failing to address governance issues in the banking sector, which led to high rates of loan defaults.

Bangladesh's economy has struggled to regain its footing since the Covid-19 pandemic, and has been hit by a recent curfew and internet blackout. The country borrowed $4.7 billion from the International Monetary Fund last year, but its foreign exchange reserves remain low.

Reserves fell to $20.5 billion last July.

Chairman of the Stock Exchange

Following Talukder's resignation, the Chairman of the Bangladesh Securities and Exchange Commission, Shibli Rubaiyatul Islam, resigned from his post.

Shibli sent his resignation letter to the secretary of the Financial Institutions Department, Mohammad Abdul Rahman Khan, the Dhaka Tribune, a Bangladeshi newspaper, reported on Sunday.