Bangladesh Bank looking for chief economist
Earlier on 13 February 2022, Habibur Rahman, the then executive director of the research department, was appointed as the central bank’s chief economist, making him the first internal appointee to serve the post
The Bangladesh Bank is looking to recruit a chief economist on a contractual basis after eight months of vacancy, backtracking from an earlier decision to fill the post by internal appointment.
In a circular issued yesterday (5 November), the central bank called for applications for the post by tomorrow (7 December).
Earlier on 13 February 2022, Habibur Rahman, the then executive director of the research department, was appointed as the central bank's chief economist, making him the first internal appointee to serve the post.
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Following his appointment, the finance ministry issued an order upgrading three executive director posts, including the chief economist, out of 38 to Grade-1 from Grade-2.
According to the ministry order, the candidates for the post of chief economist will be required to have two years of wording experience as the central bank's executive director and the appointment will be based on seniority.
The candidate will also need to have experience in research work and 20 years of job experience.
The objective of the order was to continue the recruitment of the chief economist post from an internal source, said a senior executive of the ministry on the condition of anonymity.
Habibur, who was the executive director of the central bank's research department for three years before assuming the role of chief economist was recruited as seniority basis subject to matching with the other requirements.
However, the new recruitment circular came after the fall of the Awami League-led regime, putting a break on the continuation of the previous order issued by the finance ministry on 24 April 2023.
The post remained vacant after Habibur Rahman transitioned to the role of deputy governor on 28 February this year.
Habibur continues to handle crucial tasks related to the chief economist's responsibilities since the chief economist post became vacant.
Over the last decade, the central bank appointed individuals who are Bangladeshi nationals, employed at institutions like the World Bank and the International Monetary Fund (IMF), and hold degrees from foreign universities to serve as chief economists.
Faisal Ahmed was the last chief economist appointed from outside of the Bangladesh Bank as its chief economist. He served the post from 2017 to January 2019. Previously he worked for the International Monetary Fund (IMF).
Before him, Biru Paksha Paul, an associate professor at the State University of New York at Cortland, held the position until 2016.
From 2012 to 2014, the central bank's chief economist was Hassan Zaman, who previously served as the lead economist at the World Bank's Dhaka office.
Key responsibilities of the chief economist:
As the central bank of the country, Bangladesh Bank has a number of core functions – formulation and implementation of monetary policy, exchange rate management and financial sector stability - which all require high-quality economic analysis and input.
In order to provide strategic leadership to this analytical agenda, the central bank seeks to fill the position of chief economist with someone who will report directly to the governor and ensure the continuity of the work program developed by the Chief Economist Unit.
Application requirement for chief economist post:
1. PhD in economics.
2. At least 15 years of work experience as an applied macroeconomist with a preference given to those who have worked closely with central banks;
3. Experience in working in an international financial institution/multilateral development bank/finance or economic ministry/central bank on macroeconomic and financial analysis and policies or experience of applied macroeconomic research (including publications in reputed, peer-reviewed international journals) in an internationally reputed university or research institute;
4. Ability to bring international best practices to build capacity and strengthen Bangladesh Bank policymaking;
5. Ability to reach reasoned and robust conclusions in an uncertain and complex environment with limited data and information;
6. Proven interpersonal communications skills to lead a team of economists, communicate clearly and effectively with different stakeholders and work effectively with colleagues and stakeholders across departments and government ministries;
7. The candidate is required to hold or be eligible for Bangladeshi nationality.
