Dr. Atiur Rahman, the 10th Governor of Bangladesh Bank, served from May 1, 2009, to March 15, 2016. His tenure was marked by a transformative approach toward building a pro-poor, inclusive, and sustainable financial system in Bangladesh. Popularly known as the “Poor People’s Economist” and the “Green Governor,” Dr. Rahman’s leadership at Bangladesh Bank earned both national and international recognition for stabilizing the financial system, enhancing foreign reserves, and introducing pioneering financial inclusion and green banking initiatives.
Table of Contents
Early Life and Education
Dr. Rahman was born and raised in Bangladesh, where he received his early education at Mirzapur Cadet College. He later pursued his undergraduate and graduate degrees in Economics from the University of Dhaka.
His academic excellence earned him a Commonwealth Scholarship to study at the School of Oriental and African Studies (SOAS), University of London, where he completed his M.A. and Ph.D. in Economics in 1983.
Dr. Rahman further enriched his academic profile through prestigious fellowships:
- Commonwealth Development Fellowship at the University of Manitoba, Canada (1989)
- Ford Foundation Post-Doctoral Fellowship at the University of London (1991–1992)
- Visiting Research Fellowship at the Institute of South-East Asian Studies, Singapore (1998–1999)
He also served as a visiting or adjunct professor at several renowned universities globally.
Governor of Bangladesh Bank (2009–2016)
Dr. Atiur Rahman’s tenure as the Governor of Bangladesh Bank was characterized by visionary leadership and groundbreaking reforms. His primary focus was to align the financial sector with inclusive and sustainable development goals.
1. Financial Inclusion and Pro-Poor Banking
Dr. Rahman introduced innovative financial inclusion programs to bring marginalized and underprivileged communities into the banking system. His efforts included:
- Promoting agent banking to expand financial access in rural areas
- Introducing mobile financial services (MFS), which led to a surge in financial transactions through mobile platforms
- Encouraging the opening of no-frills bank accounts for farmers and low-income individuals
- Launching women-friendly banking services and loans targeted at small-scale women entrepreneurs
2. Green Banking and Sustainable Finance
Dr. Rahman pioneered environmentally sustainable banking by establishing the Green Banking Policy and encouraging banks to finance eco-friendly projects. He linked financial stability with environmental responsibility, positioning Bangladesh as a leader in sustainable finance globally.
3. Economic Stabilization and Growth
Under his leadership, Bangladesh experienced remarkable financial stability and economic growth:
- Inflation was effectively controlled through strategic monetary policies
- The exchange rate remained stable despite global economic turbulence
- Foreign exchange reserves increased significantly, providing a cushion against external shocks
4. Global Influence and Recognition
Dr. Rahman’s expertise in sustainable finance was recognized internationally:
- He contributed to key global events such as the 3GF Conference, Rio+20, COP18, and the SDG Global Compact
- He was a member of the UNEP Enquiry for designing global sustainable financing
Academic and Professional Contributions
After his tenure as Governor, Dr. Rahman continued his academic and professional work:
1. Academic Positions
- Emeritus Professor at the Department of Development Studies, University of Dhaka
- Chairman of the Executive Committee of the Center for Advanced Research on Arts and Social Sciences, University of Dhaka
- Former Bangabandhu Chair Professor at the University of Dhaka
2. Think Tanks and Advisory Roles
- Founding Chairperson of the national think tank Unnayan Shamannay
- Chair of the Dhaka School of Banking Management (affiliated with Dhaka University)
- Senior Fellow at the Bangladesh Institute of Development Studies (BIDS)
- Special Adviser to Social Innovation Japan (SIJ)
3. Board Memberships and National Contributions
Dr. Rahman serves on the governing bodies of major national institutions:
- Bangladesh Agriculture Research Council (BARC)
- Bangabandhu Agriculture Award Trust
4. Cultural Leadership
Dr. Rahman is also a prominent figure in Bangladesh’s cultural and literary circles:
- Executive Chair of Rabindra Sangeet Sammilon Parishad
- Vice President of Chhayanaut
Literary Contributions
Dr. Rahman is a prolific writer, having authored over 100 books in both English and Bangla. His most notable works include:
- “Peasants and Classes” – published by Oxford University Press (Delhi) and Zed Books (London), widely taught in universities
- Several books on Bangabandhu Sheikh Mujibur Rahman and Rabindranath Tagore
- His works on Tagore explore the relevance of Tagore’s thoughts on socio-economic development in modern times
Awards and Honors
Dr. Atiur Rahman has received numerous prestigious awards for his outstanding contributions to economics, financial governance, and social development:
1. National Awards
- National Literary Award (Bangla Academy Award) – 2015
- Khan Bahadur Ahsanullah Gold Medal – 2021 (Dhaka Ahsania Mission)
- Sheltech Award – 2010 for financial inclusion
2. International Awards
- Best Central Bank Governor, Asia-Pacific – 2015 (The Banker, Financial Times)
- Central Bank Governor of the Year for Asia – 2015 (Emerging Markets, Euro Money)
- GUSI Peace Prize International – 2014 (GUSI Foundation, Manila)
- Indira Gandhi Gold Plaque – 2011 (Asiatic Society, Kolkata)
3. Special Recognition
- “A Regulator with a Human Face” – Awarded by the University of Dhaka
Legacy and Impact
Dr. Atiur Rahman’s tenure at Bangladesh Bank reshaped the country’s financial landscape, making it more inclusive and resilient. His vision for financial stability rooted in social and environmental responsibility left a lasting impact on Bangladesh’s economic trajectory.
Even after stepping down as Governor, Dr. Rahman continues to influence national and global discourse on sustainable development, financial inclusion, and socio-economic progress through his academic, professional, and literary contributions.
Conclusion
Dr. Atiur Rahman stands as a towering figure in Bangladesh’s financial and intellectual history. His leadership at Bangladesh Bank, groundbreaking policies, and dedication to sustainable and inclusive development have made him not only a respected economist but also a cherished national figure. His legacy continues to inspire policymakers, academics, and development professionals globally.