2024-04-07 12:39:30
Professor Shibli Rubaiyat-ul-Islam is going to be appointed for the second term as the chairman of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC). The Ministry of Finance is going to re-employ him for a contractual period of four years. According to information from the ministry, a notification in this regard may be issued this week.
Earlier, on May 17, 2020, the government appointed Professor Shibli Rubaiyat-ul-Islam as the chairman of BSEC on contractual basis for 4 years amid the global pandemic corona situation. As such, his term is ending on May 16 this year.
According to sources, the Financial Institutions Department of the Ministry of Finance has already recommended the contractual re-appointment of Professor Shibli Rubaiyat as BSEC Chairman for another 4-year term from 17 May 2024 as per Section-5(6) of the Bangladesh Securities and Exchange Commission Act, 1993. The government has sent a letter to the chief minister’s office. Subject to the approval of that department, his re-appointment will be finalized and a notification will be issued. The Financial Institutions Department of the Ministry of Finance may issue a notification on Monday-Tuesday of this week.
According to information, after being appointed as the chairman of BSEC on May 17, 2020, the commission led by Prof. Shibli Rubaiyat-ul-Islam has taken several steps to turn the country’s capital market into a world-class capital market. Besides, the current commission has done road-shows in different countries of the world to attract foreign investment in the capital market. Conducted various meetings and seminars to introduce the country’s capital market to foreigners. Through this, he tried to highlight the country’s economy and capital market in the court of the world.
The BSEC headed by Professor Shibli Rubaiyat-ul-Islam is going to pass four years amid various global crises including the war in Ukraine and Russia after the Corona situation. In this turbulent situation, the commission has taken various important decisions to control the capital market, protect the interests of investors and establish good governance. Apart from this, Prime Minister Sheikh Hasina’s dream of ‘Smart Bangladesh’ by 2041 has strengthened the country’s capital market base by enacting, amending, amending and revising various laws and regulations. During his tenure, more than 150 steps have been taken to develop the capital market and protect the interests of investors. As a result of this, in the last four years, the investment-friendly environment in the country’s capital market has been confirmed. However, considering the current situation and indicators of the capital market, it is believed that the investors will get the benefits in the future.
Meanwhile, Professor Shibli Rubaiyat-ul-Islam has been appointed as the Director (Board Director) of the International Organization of Securities Commissions (IOSCO), an organization of capital market regulatory agencies of different countries of the world, due to his efficiency, dedication, responsibility and competence. He became the first Bangladeshi to become the Board Director of IOSCO. At the same time, he was re-appointed as the Vice Chair of the Asia Pacific Regional Committee of IOSCO. He will hold the position till the next year 2024-26. He was informed of this information in a message signed by IOSCO Secretary General Martin Moloney on February 20 of this year. This is the first major achievement for Bangladesh. In this, the capital market of the country has reached a unique height.
Professor Shibli Rubaiyat-ul-Islam was born on January 1, 1968 in Dhamrai, Dhaka. He is the governor of Dhaka. He passed SSC in 1983 from Laboratory High School and HSC in 1985 from Dhaka College. He obtained his MBA degree from Dhaka University in 1985-1989. His father Rafiqul Islam Khan was the Managing Director of National Bank till his retirement. Mother country’s famous singer late Hasina Mumtaz. His wife Shenin Rubaiyat is a teacher in the English department at BRAC University and a newsreader for BTV. The couple has two sons.
Professor Shibli Rubaiyat-ul-Islam has been involved in finance, banking and insurance education for over two decades. During this time he played an active role in many trades, chambers and studies related to finance, banking and insurance at home and abroad. He is the author of ‘E-Commerce and E-Banking’ for tertiary level and ‘Finance and Banking’ published by National Board for secondary students. Prof Shibli has more than 16 research publications and 5 international research papers related to this subject. He specializes in law and practical banking, retail and e-banking, foreign exchange and international banking, corporate governance, business and basic insurance law. He has been nominated as ‘Visiting Professor’ till 2021 at Sichuan University, Chengdu, China and Best Research Paper Presenter at BAKUMSEM Conference.