Kabir reappointed BB governor after much ado
The federal government yesterday finally reappointed Fazle Kabir as the governor of the central bank for just two more years since it looks for a vintage hand to steer the financial sector during its most challenging period yet.
Kabir, who at first took charge on March 19, 2016, saw his tenure end on July 3, a day before he turned 65 years. According to the Bangladesh Bank Order, 1972 an cannot hold the post beyond that age.
Given the economic challenges thrown up by the global coronavirus pandemic, the federal government was not keen on bringing in a brand new face.
So, it preceded to amend the laws to create way for the former finance secretary to remain on beyond the 65-year age limit, in that which was an unprecedented move.
Although the cabinet approved the amendment to the Bangladesh Bank Order promptly, the bill had not been placed in parliament through the budget session. The parliament passed the amended bill on July 9.
He would now in a position to helm the positioning until July 3, 2022, when he'd go past 67 years, the finance institutions division said in a notice.
Kabir's prime task now could be to make sure smooth implementation of the Tk 103,117 crore stimulus packages to put the economy back on track again from the ruins due to 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.
He was appointed as the Bangladesh Bank governor on March 16, 2016, for four years after Atiur Rahman resigned amid an enormous row over the heist of $101 million from the Bangladesh Bank's account at the united states Federal Reserve Bank.
On February 16, the federal government extended his tenure by 90 days and 13 days in order that he could stay on until he is 65. His tenure expired on July 3.
