The government has appointed National Board of Revenue (NBR) Tax Commissioner Ikhtiar Uddin Mohammad Mamun as the new head of the Bangladesh Financial Intelligence Unit (BFIU).

The Ministry of Finance’s Financial Institutions Division on Monday issued a formal notification regarding this appointment.

According to the gazette, Ikhtiar will hold the rank and status equivalent to a deputy governor of Bangladesh Bank.

The appointment has been made on a contractual basis for a duration of two years, effective from the date he joins the office.

The notification specified that the appointment is grounded in Section 24(1)(gh) of the Money Laundering Prevention Act, 2012 (amended in 2015) and Rule 22 of the Money Laundering Prevention Rules, 2019.

As a condition of this high-profile role, Ikhtiar is required to sever all existing work-related ties and relationships with other institutions and organisations.

The terms and conditions of this contractual service will be finalised through an approved agreement. The order has been issued in the public interest and is set to take effect immediately.

Earlier, Shahinul Islam served as the head of the BFIU, but the government cancelled his appointment in September last year after a controversial video spread on social media.

The BFIU works as the country’s main financial intelligence agency, monitoring suspicious transactions by banks and financial institutions and helping prevent money laundering.