The government has reappointed Fazle Kabir as the Bangladesh Bank governor after 12 days of his previous tenure ended on 03 July 2020.
Finance Ministry today (15 July 2020) issued a gazette notification in this regard.
Although the cabinet approved the amendment to the Bangladesh Bank Order on time, the bill was not placed in parliament during the budget session. The parliament passed the amended bill on 09 July 2020.
Seeing the development, Fazle Kabir has been reappointed as per the Bangladesh Bank (Amendment) Act 2020 and his present tenure will end on 03 July 2022.
The order will be effective immediately.
Fazle Kabir will receive salary-allowance and other benefits from the BB as per the terms of the agreement executed with the government during his tenure as governor, it adds.
Kabir’s prime task now is to ensure smooth implementation of the Tk 1,03,117 crore stimulus packages to put the economy back on track again from the ruins caused by the pandemic.
The central bank has been tasked with administering most of the packages.
Kabir studied at Faujdarhat Cadet College for his secondary and higher secondary education, followed by his undergraduate and graduate studies at the Department of Economics of the University of Chittagong.
Fazle Kabir was appointed as the 11th Governor of the Bangladesh Bank on 16 March 2016 for the next four years. His tenure was supposed to expire on 20 March this year, but later it was extended until he turned 65.
Earlier this month, an amendment was made to the law setting the highest age limit of the central bank governor as 67 years from the previous 65 years.