No BB governor except Mansur used CSR funds

In the history of Bangladesh Bank, a total of 12 governors have served from 18 January 1972 to 25 February 2026. Among them, Dr Ahsan H Mansur had the shortest tenure, serving only one year, six months and 17 days. Despite his brief time in office, several controversial decisions brought him to the centre of debate in the central bank’s history. The government removed him from his post two and a half years before the completion of his tenure. In particular, several officials at the central bank have raised questions over a number of decisions he made regarding the use of Bangladesh Bank’s Corporate Social Responsibility (CSR) fund.

Sources within Bangladesh Bank said that in the past, the CSR fund was mainly used for projects related to education, healthcare and social development. In particular, the fund supported various development initiatives, including the establishment of computer laboratories in private and MPO-listed educational institutions. However, during Dr Mansur’s tenure, allegations emerged that grants were provided to several institutions personally connected or known to him.

According to central bank documents and related sources, Tk29.7 million was granted from the CSR fund to the Khalil-Malik Foundation, established by a close friend of the governor in Chuadanga. The foundation, formed to support cancer and kidney patients, allegedly received the grant without sufficient time being given to verify its capacity. Officials concerned claimed that pressure was exerted at the departmental level to release the funds quickly.

Additionally, Tk2.5 million from the CSR fund was allocated to establish a computer lab at Chuadanga High School. It was reported that the governor himself attended the inauguration of the project along with his wife. Bangladesh Bank officials noted that direct involvement of a governor in CSR projects is very rare, which also sparked discussions within the institution.

Another controversy arose over the decision to allocate Tk2.5 million from the CSR fund to Martha Lindstrom Nurjahan Begum Girls’ High School in Korotia, Tangail. It was alleged that Dr Mansur himself was serving as chairman of the school’s governing body at the time. The grant was approved by Bangladesh Bank while he was leading the institution, raising concerns among experts about a potential conflict of interest.

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Local sources said that the governor-owned Water Garden Resort and Spa Centre is located next to the school in Basail upazila of Tangail. The resort had previously sparked controversy regarding the safety of the school’s students. On 23 August 2022, an investigation committee formed by the district administration visited the site and set a 15-day deadline for the removal of one of the resort’s gates. Dr Mansur later became chairman of the school’s governing body, and the subsequent allocation of CSR funds to the institution raised further questions.

Although Bangladesh Bank’s CSR fund is usually provided to private and MPO-listed educational institutions, grants to government schools are rare. In this context, officials have described the decision to provide CSR funds to Nilphamari Government High School as unusual. Allegations suggest that pressure was exerted on the relevant department to approve the grant because the school was Dr Mansur’s childhood educational institution.

Several Bangladesh Bank officials, speaking on condition of anonymity, said that no previous governor in the central bank’s history had faced allegations of allocating CSR funds to institutions with which they were personally associated. They stressed that transparency and accountability in the use of CSR funds are particularly important for a key institution such as the central bank.