The government has decided to extend the tenure of Prof Shibli Rubayat-Ul-Islam as the chairman of the Bangladesh Securities and Exchange Commission (BSEC) by four more years.
On March 31, a summary was sent to Prime Minister Sheikh Hasina from the Ministry of Finance to re-appoint Shibli as BSEC chairman for another term.
The prime minister approved his reappointment proposal on Thursday, according to officials concerned.
Prof Shibli was appointed as BSEC chairman on May 17, 2020, on a contractual basis for four years. His term is set to end on May 16 this year.
The finance ministry has finalised the process of his reappointment, but the gazette is yet to be published.
Along with Shibli, four commissioners of the stock market regulator have also gotten another term of four years to serve in the same posts.
Anyone over 65 years of age, however, will not be allowed to serve on the posts.
Previously, Shibli served as the dean of the Faculty of Business Studies at the University of Dhaka and the chairman of the Sadharan Bima Corporation.
He has spent more than two decades teaching finance, banking and insurance and played a key role in many businesses, chambers and research projects related to his fields at home and abroad.
Shibli has more than 16 research publications in his field and five international research papers to his name. He has authored “E-Banking and E-Commerce", a book for the tertiary level, and “Finance and Banking", a textbook for secondary students.
He specialises in the law and practice of banking, retail and e-banking, foreign exchange and international banking, corporate governance, legal aspects of business, and the fundamentals of insurance.
He was a guest professor at the Sichuan University in Chengdu, China until 2021. He was also honoured for the best research paper presented at the BAKUMSEM conference.
Prof Shibli also has research degrees and diplomas and received training from the UK, Australia and South Korea.
His wife Shenin Rubayat, a faculty member at BRAC University’s Department of English and Humanities, is an English newscaster at BTV.
Recently, Shibli was re-elected vice chair of the Asia Pacific Regional Committee of the International Organization of Securities Commissions (IOSCO).
Re-elected unopposed for the second time, Shibli will serve in this position for the 2024–26 term and will also represent Bangladesh on the board of IOSCO, an international body of the world's securities regulators established in 1983.
