Dhaka, April 26 -- Bangladesh Bank Governor Md. Mostaqur Rahman recently pledged "full protection" and functional independence for Shariah board members. It is a refreshing departure from the status quo in the central bank. For the very first time, an in-office governor actually held a discussion with Shariah scholars, acknowledged past supervisory failures, and promised an era where boards can operate meaningfully and fearlessly. This surely matters, but after thirty years of studying Islamic banking governance and serving on the AAOIFI Ethics and Governance Board, I have to be honest: sincere pledges are never a substitute for legally enforceable architecture. Bangladesh's Islamic banking sector doesn't need more reassurances; all it ne...