While the bank has yet to release new notes, footpath vendors are still using them
He will succeed Mustafa K Mujeri whose term ends in March.
The decision was taken at its Thursday's board meeting chaired by Planning Minister AHM Mustafa Kamal, a media statement said.
Syed Murshid, who served as BIDS Research Director and is currently working with the ADB's Cambodia branch, will take over in April for the next three years.
He studied economics at the Dhaka University and did his PhD from the University of Cambridge.