In memory of AKN Ahmed

Bangladesh Institute of Bank Management or BIBM will host an annual lecture on banking in the memory of AKN Ahmed, a former governor of Bangladesh Bank who passed away in February this year.

Ahmed had been the second governor of the central bank from November 19, 1974 to July 13, 1976 and rose to fame as a banking legend and an iconic governor in the history of Bangladesh Bank.

“As the chairman of BIBM, I am requesting the governing board to take steps in the next meeting so that the lecture takes place,” Bangladesh Bank Governor Atiur Rahman said.

The BIBM will also publish a collection of books and articles written by Ahmed and will introduce an academic award in his name, Rahman said.

He made the announcements after eminent economist Akbar Ali Khan, a cousin of AKN Ahmed, came up with three proposals at a memorial discussion for Ahmed.

Bangladesh Bank Training Academy (BBTA), the Association of Bankers, Bangladesh, the Institute of Bankers, Bangladesh and BIBM jointly organised the discussion, at BBTA in Dhaka on Wednesday.

Presently, the BIBM hosts Nurul Matin Memorial Lecture on ethics in banking every year, where eminent personalities deliver speeches.

“The new generation of bankers can take the banking sector forward further by following the ideals and ethical values of AKN Ahmed,” said Rahman.

“AKN Ahmed did not confine his knowledge to the banking sector; he spread it across the world,” he said.

Ahmed resigned as the Bangladesh Bank governor in 1976. Later, he also worked for the World Bank and International Monetary Fund and played the role of a Bangladeshi ambassador in Japan and South Korea.

He was awarded with the Alexander the Great gold medal by the Institute of Oriental Philosophy, Soka Geiki University, Tokyo for his deep knowledge of Japanese culture and society.

Akbar Ali Khan, also a former caretaker government adviser, said as a relative of Ahmed he can assist the BIBM or the central bank for publishing the collected works by providing the books and articles of Ahmed.

AKN Ahmed was the second governor, but in real sense he transformed the central bank as the regulator of all banks, Former Bangladesh Bank governor Farashuddin Ahmed said.

“Demonetisation of 100 taka notes by AKN Ahmed was a historic step. He was successful to control inflation, increase reserves and exports,” he said.

“The central bank would have been much stronger if AKN Ahmed had not stepped down from his post.” ©Former finance minister M Syeduzzaman said AKN Ahmed could take policies and guidelines that were must needed at that time.

“We needed him as the governor of Bangladesh Bank for a longer period,” he said.

The regulator would have been in a better position and the situation in the banking sector would have been better if AKN Ahmed had been the BB governor for a longer time, he said.

Khurshid Alam, former governor of Bangladesh Bank; AQ Siddiqui, former chairman of Bangladesh Commerce Bank and former managing director of Sonali Bank; and Syed Ashraf Ali, former executive director of Bangladesh Bank, also spoke.