Khondoker Rashed Maqsood, a former banker, has been appointed as the new chairman of the Bangladesh Securities and Exchange Commission (BSEC).
He has been appointed for a four-year term.
A notification, signed by Deputy Secretary Farida Yasmin, was issued in this regard on Sunday.
Maqsood, who was previously the managing director of Standard Bank, is currently serving as an adviser for Strategic and Business Development at the International Finance Corporation (IFC) of the World Bank Group.
On August 13, following the formation of the new interim government, Masrur Riaz, chairman and CEO of the private research organization Policy Exchange, was initially appointed as BSEC chairman.
However, his appointment faced controversy on social media, where allegations were made about his connections with Salman F Rahman, former prime minister Sheikh Hasina's private investment adviser.
These concerns were raised in connection with a photograph circulating online.
Following objections from BSEC officials and the Financial Institutions Division of the Ministry of Finance, Riaz decided to withdraw from the role on Saturday.
In light of Riaz's withdrawal, the Ministry of Finance began seeking a new candidate for the BSEC chairman position.
This led to the appointment of Khondoker Rashed Maqsood.
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 of Citibank NA from December 2010 to August 2017.
