Ex-secretary Fazle Kabir appointed Bangladesh Bank governor for 4 years

The government has appointed former finance secretary and Sonali Bank chairman Fazle Kabir as governor of the central bank for four years.

The public administration ministry issued a circular on Wednesday to this effect.

In another circular, the ministry cancelled the contractual appointments of two deputy governors – Md Abul Quasem and Nazneen Sultana – with effect from Mar 15.

Finance Minister AMA Muhith announced the removal of the two deputy governors on Tuesday, the day governor Atiur Rahman resigned over the recent cyber heist to which the central bank lost $81 million from its forex reserve account in the US.

The public administration ministry circular said the new governor’s contractual service tenure would be for four years from the date of his taking up the position.

Other conditions of his service would be determined by the agreement to be signed with him, it said.

His predecessor Atiur Rahman was appointed central bank chief for four years in 2009 and later his contractual service was extended by another four years.

About Fazle Kabir

Kabir was born on July 4, 1955 in Dhaka. His ancestral home is in Hasail village under Tongibarhi Upazila of Munshiganj.

He started his career as an assistant traffic superintendent of Bangladesh Railway in 1980 after doing his graduation and post-graduation in Economics from Chittagong University.

He switched to an administrative job three years later.

Before taking over as finance secretary, Kabir held different positions, including one as director general of the National Academy for Planning and Development.

He was also a member of the board of directors of state-owned Janata Bank.

Kabir was made chairman of another state-owned bank, Sonali Bank, after it was hit by several financial scams, including that involving Hall-Mark Group.

His wife Mahmuda Sharmin Benu is an additional secretary to the public administration ministry.