BB DG Sayedur relieved of forex reserve dept duty

Bangladesh Bank Deputy Governor Kazi Sayedur Rahman has been relieved of his duties at Forex Reserve and Treasury Management Department.

The central bank on Tuesday issued an office order in this regard as per the instruction of Bangladesh Bank Governor Abdur Rouf Talukder.

Abu Farah Md Nasser, another deputy governor of the central bank, will carry out Sayedur’s duties at the department from now on.

Kazi Sayedur Rahman has been working at the vital department for a long time since the start of his career as an assistant director at the Bangladesh Bank on July 21, 1988.

He has been serving at the Forex Reserve and Treasury Management Department for 25 years in various posts.

It is unprecedented for an officer to remain in a department for such a long time, the central bank officials told The Business Post on condition of anonymity.

Sayedur assumed his responsibilities as the deputy governor of the Bangladesh Bank on November 22, 2020.

The country’s foreign exchange market is now volatile due to the USD shortage.

The Forex Reserve and Treasury Management Department continues to pump USD into the market to meet the growing demand.

BB officials also said that questions have been raised about the various decisions of the central bank amid the US dollar crisis in the banking sector, which prompted the governor to take this step.

Rahman was also transferred from the duties of Bank Inspection Department-4 and Bank Inspection Department-7.  Abu Farah Md Nasser will carry out those responsibilities too.