Dhaka, Feb. 26 -- Resetting higher interest rates and helping in reopening closed factories through default loan rescheduling and fresh working-capital lending are among first priorities set by the newly appointed Bangladesh Bank governor.

Explaining Governor Mostaqur Rahman's directions to the central bank's hierarchy on the first day of takeover Thursday, a BB spokesman said the regulator would oversee the contingent financing operations by the commercial banks.

He said the new Governor, Mostaqur Rahman, targets expansion of economic growth alongside job creation through banking on the ongoing macroeconomic stability.

To achieve the goal, the governor said, the central bank would revisit higher interest-rate structure along with init...