Khondoker Rashed Maqsood has become the new chairman of the Bangladesh Securities and Exchange Commission (BSEC).
The Ministry of Finance issued a notification, signed by Farida Yasmin, deputy secretary of the Financial Institutions Division (FID), in this regard on Sunday.
He has been appointed for a four-year term.
Maqsood is currently serving as an adviser for Strategic and Business Development at the International Finance Corporation (IFC) of the World Bank Group.
Earlier on August 10, Shibli Rubayat-Ul Islam resigned from the post of chairman of BSEC, five days after the fall of Sheikh Hasina-led government.
On August 13, following the formation of the new interim government, Masrur Riaz, chairman and CEO of the private research organisation Policy Exchange, was appointed as BSEC chairman.
However, he faced some allegations about his connections with Salman F Rahman, former prime minister Sheikh Hasina's private investment adviser.
Following objections from BSEC officials and the Financial Institutions Division of the Ministry of Finance, Riaz decided to withdraw from the role on Saturday. This led to the appointment of Khondoker Rashed Maqsood.
Meanwhile, Maqsood has been with the IFC since March, 2023. Prior to this, he served as the managing director of Standard Bank from January 2020 to January 2023, and as managing director of NRBC Bank from April 2018 to January 2020.
Before joining these domestic banks, he was the managing director and country officer of Citibank NA from December 2010 to August 2017.
Rashed Maqsood completed his MBA in Finance from IBA of Dhaka University and started his career with American Express Bank as a management trainee in 1992.
