The almanac

UPI Almanac for Saturday, Jan. 12, 2013.
By United Press International

Bangladesh election set for December

DHAKA, Bangladesh, Sept. 20 (UPI) -- The caretaker government in Bangladesh has scheduled a general election for Dec. 18, Fakhruddin Ahmed, the election chief adviser, announced Saturday.

The almanac

UPI Almanac for Saturday, Jan. 12, 2008.
By United Press International

India seeks Bangladesh's help on terror

NEW DELHI, Sept. 5 (UPI) -- India has asked Bangladesh to cooperate with it in the war on terror and provide particulars of militants indulging in insurgency.

Clashes lead to curfew in Bangladesh

DHAKA, Bangladesh, Aug. 23 (UPI) -- Police-student clashes in emergency-ruled Bangladesh have led to curfews in six cities, including Dhaka, it was reported Thursday.

Two killed in Bangladesh fire

DHAKA, Bangladesh, Feb. 26 (UPI) -- A fire at the Bangladesh Steel and Engineering Corporation building in Dhaka, Bangladesh, killed at least two people injured several others Monday.

Bangladesh gets new head of government

DHAKA, Bangladesh, Jan. 12 (UPI) -- The former head of the Bangladesh central bank was named head of the caretaker government Friday, replacing President Iajuddin Ahmed.

Dr Fakhruddin Ahmed (Bengali: ফখরুদ্দীন আহমেদ Fokhruddin Ahmed) (born May 1, 1940) is a noted Bangladeshi economist, civil servant, and a former governor of the Bangladesh Bank, the country's central bank. He was appointed as the Chief Adviser (Head of the Government) of the non-party interim caretaker government of Bangladesh on 12 January 2007, amidst chaos in Bangladeshi politics, and remained in that post until a new election was held two years later.

Dr. Fakhruddin Ahmed, son of Dr. Mohiuddin Ahmed, was born in Bikrampur of Dhaka District, now Munshiganj, Bangladesh. He took the oath of office as Chief Adviser of the Caretaker Government of the People's Republic of Bangladesh on 12 January 2007. Prior to this appointment, he worked as Chairman of Palli Karma-Sahayak Foundation (PKSF) from June 2005 to January 2007. PKSF is the largest apex fund for micro credit in the world, currently providing financial and institution-building assistance to over two hundred micro-finance institutions. From October 2001 to April 2005, Dr. Ahmed served as Governor of the Bangladesh Bank.

While he was Governor, Dr. Ahmed introduced wide-ranging reforms in the conduct of monetary and exchange rate policy, in the development of new financial markets (bond market) and financial instruments (securitization), and in the operation of the financial system. The financial sector reforms included stronger corporate governance measures at the board level and also on internal policies, processes and structures within the banking industry and for non-bank financial institutions. Other significant reforms undertaken during his tenure included strengthening the capacity of the Bangladesh Bank. Dr. Ahmed’s major achievements included : (i) floating the exchange rate with minimal volatility, (ii) introducing interest rate flexibility and bringing down the interest rate substantially, which in turn contributed to a significant increase in industrial investment, (iii) introducing major corporate governance measures for the first time in the Bangladeshi corporate sector, and (iv) making the Bangladesh Bank an effective regulator and enforcer. The reforms implemented during Dr. Ahmed’s tenure contributed to macroeconomic and financial sector growth and stability in a major way.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Fakhruddin Ahmed."
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