Fazle Kabir appointed Bangladesh Bank governor for third consecutive term

The government has kept faith in Fazle Kabir to continue as governor of the Bangladesh Bank for a third consecutive term.

Following the amendment of a bill allowing Kabir to continue in the job until the age of 67 instead of 65, the incumbent governor will stay on for another two years, the finance ministry said in a statement on Wednesday.

“According to the Section 10 (3) and 10 (5) of Bangladesh Bank (Amendment) Bill 2020, Kabir has been appointed as governor of the central bank until July 3, 2022,” the statement read.

Parliament on Jul 9 passed a bill allowing Kabir to keep the job until he is 67 instead of 65.

This is the first time the government has extended the maximum age limit to hold the office, which Kabir had crossed earlier this month.

Kabir’s second term ended while the central bank was doing the crucial job of overseeing the disbursement of stimulus packages worth around Tk 1.25 trillion to cushion the economy from the coronavirus crisis.

Finance Minister AHM Mustafa Kamal had confirmed the government wanted Kabir to continue for smooth disbursements of the coronavirus relief fund.

“If a new governor steps in now, it would take months for him or her to get the hang of it [stimulus package],” Kamal said.