Prof Abu Ahmed, a former chairman of the economics department of the University of Dhaka, has been appointed as the chairman of the Investment Corporation of Bangladesh (ICB) for the next three years.

The Financial Institutions Division of the finance ministry issued a notification in this regard last week.

Prof Ahmed will replace Subarna Barua, who resigned recently citing personal reasons following the ouster of Sheikh Hasina-led Awami League government on August 5.

This week, Ahmed will join the state-run investment bank which was formed to provide support to the stock market.