Naser took the post despite 10 more executive directors who joined the central bank before he, still working at the BB
The Bangladesh Bank (BB) on Sunday appointed Abu Farah Md Naser as its new deputy governor, disgruntling many senior executive directors by violating the principle of seniority.
Naser took the post despite 10 more executive directors who joined the central bank before he, still working at the BB.
Some senior executive directors yesterday met with the BB Governor Fazle Kabir and said this appointment was a violation of the principle of seniority, which had never happened before.
Naser, known as being very close to the governor, is now enjoying post-retirement leave after completing his job responsibilities as the executive director of the central bank.
He has been given the new appointment as the deputy governor, subject to withholding of his leave as per Article 10 (4) of the Bangladesh Bank Order, 1972 and the relevant gazette notification issued by the Financial Institution Division on June 11, 2019.
A notification of the Financial Institution Division issued yesterday said that the contractual appointment of Naser will remain effective until he reaches the age of 62 on February 23, 2024.
This order will come into immediate effect, as per the notice.
He now joins Ahmed Jamal, KaziSayedur Rahman, and AKM Sajedur Rahman Khan as his fellow BB deputy governors.
The central bank has always had three deputy governors, but a fourth post was added in 2019 with the condition that one of them would be filled up by someone from a commercial bank.
Now, with four deputy governors, it is expected that the central bank’s supervision of the country’s financial system will amp up.