Economist and public policy expert M Masrur Reaz was appointed chairman of the Bangladesh Securities and Exchange Commission (BSEC) for the next four years.

The Financial Institutions Division of the Ministry of Finance issued a circular to this end yesterday.

Reaz is the chairman and founder of Policy Exchange Bangladesh, a research organisation focusing on applied economic policy.

The post had been vacant since former BSEC chairman Prof Shibli Rubayat-ul Islam resigned five days after the fall of the Sheikh Hasina-led Awami League government on August 5. Two commissioners, Prof Rumana Islam and Shaikh Shamsuddin Ahmed, also quit.

Reaz is a former senior economist and programme manager of the World Bank Group and has worked in several countries in South Asia, East Asia and the Pacific.

Reaz is the chairman and founder of Policy Exchange Bangladesh, a research organisation focusing on applied economic policy

"I am humbled and consider it an opportunity to contribute to the country," he told The Daily Star yesterday, adding that an unprecedented student movement and sacrifice of many people had led to the opportunity.

"There has been massive corruption in the stock market and my priority is to clean it, bring back good governance and develop the market as a long-term source of financing," he added.

Reaz has spearheaded numerous public policy advisory initiatives to support institutions such as the Ministry of Finance, Finance Division, Ministry of Commerce, Bangladesh Investment Development Authority, National Board of Revenue and Economic Relations Division.

He also engaged with various global institutions, including Blackrock, US-Bangladesh Business Council Washington DC, Metlife, Enterprise Singapore, and the Australian Investment Commission.

He is the son of the late Reaz Uddin Ahmed, who was an editor of News Today and was awarded the Ekushey Padak.