Masrur Reaz not taking charge as BSEC chariman

Masrur Reaz has decided not to join as chairman of Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market of the country.

He has informed the financial institutions division of the finance ministry about his decision.

The financial institutions division on 13 August appointed M Masrur Reaz, chairman of Policy Exchange, as the chairman of BSEC in the wake of change in the government. After the decision was made public, a section of BSEC officials and different quarters raised objections about Masrur Reaz’s appointment.

Due to the objections, Masrur Reaz took some time to make the decision. Meanwhile, BSEC officials withdrew their objections about Masrur.

Asked about the decision, Masrur Reaz told Prothom Alo on Saturday, "The interim government decided to appoint me as BSEC chairman. But as an economist I think I have scope to serve the country and economy in a greater capacity at this important moment…I decided not to take up the charge of the BSEC chairman from this consideration."

Meanwhile, the finance ministry is looking for a fresh face after Masrur Reaz disclosed his decision. Financial institute division has already collected information from several persons for the appointment.