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Should a branch manager be given full autonomy for the running of the branch he manages?

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For the organisation I work with, we opened a branch and employed a manager to oversee the branch. We monitor and direct the affairs of the branch from the headquarters.

The branch manager has asked for full autonomy to run the affairs of the branch? Should it be granted to him?
 
I think he needs to give reasons why he wants full autonomy over that branch, and at the end of the day, the headquarters would be the one to decide if they want to or not. It's better for the headquarters to still monitor things though.
 
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