US court once penalised Bangladesh Bank Governor Ahsan H Mansur

Ahsan H Mansur assumed leadership of Bangladesh’s central bank in August 2024 with a strong pledge to reform the country’s fragile economy and tackle corruption and disorder in the financial sector. However, information obtained by Bangladesh Pratidin suggests a different side of the story. According to the report, a court in the United States had previously found him guilty of financial mismanagement and breach of contract, imposing a penalty against him.

Financial Penalty and ‘Mechanic’s Lien’ in US Court

Investigations reveal that during the 1990s, while living in Maryland, Ahsan H Mansur and his then wife Sayra Mansur allegedly failed to pay dues to a contractor and resorted to financial misconduct. On October 21, 1994, Albert Martin Gates Jr. (Gates Construction) filed a case against them at the Montgomery County Circuit Court.

After prolonged hearings, the court found Dr. Mansur guilty and on December 20, 1994, ordered him to pay $5,529 along with a mechanic’s lien. Such a lien is typically imposed when payment is not made for construction or repair work carried out on a property.

Arrest Warrant in Washington

One of the most significant controversies reportedly occurred in October 2024. While attending meetings of the World Bank and the International Monetary Fund (IMF) in Washington as the governor of the central bank, Dr. Mansur allegedly faced embarrassment over an arrest warrant.

The warrant was issued by a US District Court in connection with a 1997 dispute involving a US company named Smith Cogeneration. According to the report, the court issued a warrant against Dr. Mansur and a former economic adviser for contempt of court after a contract with the company was cancelled. The US Marshals Service was instructed to arrest them.

IMF Pension and Divorce-Related Financial Disputes

Questions have also been raised about Dr. Mansur’s personal financial dealings based on documents from his divorce proceedings. In 2009, when his wife Sayra Sarwar filed for divorce, the petition alleged that Dr. Mansur had abandoned her and their children without providing financial support.

When the divorce was finalised, Dr. Mansur was reportedly required to pay a significant portion of his IMF pension fund, estimated at $2 million. About one-third of the fund — nearly $1 million (around Tk 12 crore) had to be paid as a lump sum settlement.

Wealth, Corporate Roles and Conflict of Interest Questions

Before becoming the central bank governor, Dr. Mansur served as chairman of BRAC Bank and as a director of major corporate entities including Walton. In 2022, he reportedly received more than Tk 2.44 crore in salary and bonuses from BRAC Bank alone.

He is also said to own a luxury residence in Gulshan, Dhaka, and a large farmhouse near Savar, reflecting an affluent lifestyle.

These issues have raised questions about how someone who previously worked with large corporate houses and faced legal disputes in the United States over unpaid dues could take on the responsibility of regulating “crony capitalism” in Bangladesh’s banking sector.

Questions Over Ethical Standards

Financial crime analysts say the position of a central bank governor requires unquestionable personal integrity. In Dr. Mansur’s case, critics point to past legal penalties in the United States, allegations of failing to provide family support, and the reported arrest warrant related to an international business dispute.

At a time when ordinary citizens are struggling with inflation and banks are facing liquidity shortages, analysts say the appointment of a controversial and previously penalised economist to oversee Bangladesh’s financial stability raises serious questions.