"The government has given approval to the contractual appointment of the governor until he reaches the age limit for retirement at 65," said Shaikh Mohammed Wahid-uz-Zaman, principal secretary to the prime minister, praising Rahman's performance and competence.
The current term of Rahman, who has been at the helm of the Bangladesh Bank since 2009, ends April 30, the Bangladesh Daily Star reported.
Rahman is the 10th governor of the central bank.
Couple mistakenly served bag of cash at McDonald's drive-thru
Jordana Brewster on Paul Walker: 'He was an enormous presence in my life'