BB DG Sayedur relieved from forex reserve dept duties

Bangladesh Bank Deputy Governor Kazi Sayedur Rahman has been relieved of his duties at the Forex Reserve and Treasury Management Department. The central bank on Tuesday issued an office order in this regard.

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

Kazi Sayedur Rahman has worked for the vital department for a long time since starting his career as an assistant director in the Bangladesh Bank on July 21, 1988.

It is unprecedented for an officer to remain in a department for such a long time, 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.