Shibli Rubayat-Ul-Islam to be reappointed as BSEC chair

Staff Reporter :
Professor Shibli Rubayat-Ul Islam is set to be reappointed as chairman of the Bangladesh Securities and Exchange Commission (BSEC) for a four-year term.
The finance ministry’s recommendation for the reappointment has already got the consent of Prime Minister Sheikh Hasina last week and a circular would be issued soon, according to ministry sources.
The Financial Institutions Division of the ministry, in its recommendation to the prime minister, said Professor Shibli Rubayat-Ul Islam meets the age limit threshold of 65 years to serve the capital market regulator as he would be only 56 years old on 16 May – the last date of his first term as BSEC chairman.
The Bangladesh Securities and Exchange Commission Act, 1993 allows a BSEC chairman and four commissioners to be reappointed for two four-year terms in a row. However, they cannot continue the contractual job after the age limit of 65 years.
The government in May 2020 appointed Shibli Rubayat-Ul Islam to lead the BSEC. Prior to that, he was a professor of Banking and Insurance and the Dean of the Faculty of Business Studies at the University of Dhaka.
He was also the chairman of Sadharan Bima Corporation, the state-owned non-life insurer and reinsurer.
Following his first tenure for 2022-24 as the vice-chair of the Asia Pacific Regional Committee of the International Organization of Securities Commissions (IOSCO), Shibli Rubayat-Ul Islam has been re-elected there for the 2024-26 term to represent Bangladesh at the regional committee of the organisation of the world’s securities regulators.