Eminent economist and public policy expert Dr M Masrur Reaz has decided not to serve as the chairman of Bangladesh Securities and Exchange Commission (BSEC).
In a statement issued Saturday, Dr Reaz thanked the interim government for appointing him as the BSEC chairman, adding that he however only wants to work as an economist at the moment.
The statement came four days after the interim government announced his appointment.
Dr Reaz said, “I feel that at this critical juncture of the nation, I will be best able to serve in my current role as an economist to promote necessary policy analysis and dialogue, and to put forth actionable policies and reform ideas for the betterment of our economy, with particular focus on trade, investment, and financial development.
“I would like to take the opportunity to express my gratitude to the interim government for appointing me as the chairman of the regulatory body. Despite my heartfelt appreciation, I have decided not to accept the position of BSEC chairman.”
Meanwhile, the finance ministry has decided to look into the matter due to some complaints. His appointment order as BSEC chairman was removed from the website of the Ministry on Wednesday.
Back on Tuesday, the Financial Institutions Division had issued a circular appointing Dr Reaz as the BSEC chairman for the next four years, with immediate effect.
After the fall of Sheikh Hasina on August 5, on Saturday night, the then BSEC chairman Prof Shibli Rubayat-Ul Islam resigned along with two other commissioners, Prof Rumana Islam and Shaikh Shamsuddin Ahmed.
Finance and Planning Adviser Dr Salehuddin Ahmed on Wednesday had said, “There are some questions about Masrur Reaz. I will look into that. I will see and decide in a day or two.”
Meanwhile, the BSEC Officers Welfare Association had stated on Tuesday night that the officers and employees of the commission do not want Masrur Reaz due to his lack of expertise in the stock market, and his closeness to Salman F Rahman in some controversial activities.
Dr Reaz is the chairman and CEO of Policy Exchange Bangladesh, a private think tank. He worked as a senior economist in the Finance, Competitiveness, and Innovation (FCI) Global Practice of the World Bank Group (WBG), where he served for ten years during 2010–2020.
