As of October 26, 2023, the Finance Minister of Bangladesh is A H M Mustafa Kamal.
A. H. M. Mustafa Kamal, often referred to as Lotus Kamal, is a prominent figure in Bangladeshi politics and economics. He assumed office as the Finance Minister on January 7, 2019, following the Awami League’s victory in the 11th National Parliamentary Election. His tenure has been marked by efforts to steer Bangladesh’s economy through both periods of growth and global challenges like the COVID-19 pandemic and the subsequent economic slowdown.
Born in 1947 in Cumilla, Kamal has a strong background in business and accounting. He is a chartered accountant and holds a law degree. Prior to entering politics full-time, he was a successful businessman, establishing himself in various sectors including sports, real estate, and trading. This business acumen has arguably informed his approach to managing the nation’s finances.
As Finance Minister, Kamal has overseen the formulation and implementation of several national budgets. These budgets have typically focused on promoting economic growth, reducing poverty, and improving social indicators. Key areas of focus have included infrastructure development (such as roads, bridges, and power plants), enhancing agricultural productivity, expanding social safety nets, and investing in education and healthcare.
Some of the significant initiatives undertaken during his tenure include efforts to increase revenue collection through tax reforms, promote foreign investment, and manage the country’s foreign exchange reserves. He has also been involved in negotiating loans and grants from international development partners like the World Bank and the Asian Development Bank.
Kamal’s time as Finance Minister has not been without its challenges. The COVID-19 pandemic presented a significant test, requiring the government to implement stimulus packages and support vulnerable populations. He has also faced criticism regarding rising inflation, managing the national debt, and addressing issues related to corruption and financial irregularities.
Despite these challenges, A. H. M. Mustafa Kamal continues to play a vital role in shaping Bangladesh’s economic policy. His experience as a businessman and his long involvement in politics provide him with a unique perspective on the challenges and opportunities facing the country. He remains a key figure in the Awami League government and a driving force behind its economic agenda.
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