Dr M Masrur Reaz, known as an economist and public policy expert, has been appointed chairman of the Bangladesh Securities and Exchange Commission (BSEC) to a four-year term.
The Financial Institutions Division of the Ministry of Finance (MoF) issued a notification in this regard on Tuesday with immediate effect.
Mr Reaz will replace Prof Shibli Rubayat-Ul Islam, who stepped down on Saturday five days after the fall of former prime minister Sheikh Hasina in the wake of a mass uprising.
Before the appointment as BSEC chief, Mr Reaz was serving as chairman and CEO of Policy Exchange Bangladesh, a private sector advisory institute focusing on applied economic policy for economic growth and creation of markets.
He is an economist specialising in the private sector and a former senior economist/programme manager at the World Bank Group operating in several countries in East Asia and Pacific, and South Asia regions.
Dr Reaz was involved in a number of economic policy advisory works in supporting several policy institutions, such as the Ministry of Finance, Finance Division, Ministry of Commerce, Bangladesh Investment Development Authority (BIDA), National Board of Revenue (NBR), Economic Relations Division (ERD) etc.
Dr Reaz has had experience working with global and local institutions and played an important role in catalyzing long-term finance, capital and debt markets.
He served as programme manager/head of Bangladesh Investment Climate Fund (BICF), a flagship initiative of World Bank Group that helped strengthen economic competitiveness of Bangladesh.
Dr Reaz was also a member of the policy and regulatory sub-committee and the investment sub-committee for the logistics sector formed by the Ministry of Commerce, and the Bangladesh Investment Development Authority (BIDA).
He is a member of the newly-formed National Committee, anchored at BIDA, for formulation of Bangladesh's first-ever Investment Policy.
Dr Reaz is a member of the committee on investment, research, and advocacy for the American Chamber of Commerce in Bangladesh, and a policy adviser for the London-based International Growth Centre.
Under the leadership of Dr. Reaz, Policy Exchange together with the Metropolitan Chamber of Commerce and Industries (MCCI) introduced Bangladesh's first Purchasing Managers' Index (PMI), most widely used tool globally for economic pulse check, and the first home-grown, country-focused investment climate index known as Bangladesh Business Climate Index (BBX).
Dr. Reaz is a commonwealth scholar and holds a PhD degree in development economics from the University of Manchester, UK, and an MBA from the University of New Orleans, USA.
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