Former Governor of Bangladesh Bank, Md Khorshed Alam, died of age-related complications at United Hospital in the capital at 10 am on Wednesday, said a press release from the central bank.
He was 86 years old.
Khorshed Alam first formed and managed the Monetary Policy Committee of Bangladesh Bank.
Under financial sector programmes, he coordinated the central bank's engagement with various financial development agencies, including the International Monetary Fund, World Bank and Asian Development Bank.
Prior to joining the Bangladesh Bank as governor, he served as the chief finance secretary.
Khorshed Alam was born on 15 January 1935 in Ramnagar, Narsingdi.
He obtained a master's degree in economics from Dhaka University, a master's degree in public administration from Harvard, and a master's degree in economics from Tufts University.
He actively participated in the language movement in 1952.
Khorshed Alam started his professional life by joining the Pakistan Civil Service in 1957 and was the deputy commissioner for Chattogram, Mymensingh, and Pabna.
He was also appointed to the posts of secretary of information, local government, communications, industry, commerce, and finance, and also served as ambassador to Turkey.
Expressing grief for the death of Khorshed Alam, Bangladesh Bank Governor Fazle Kabir said, "Khorshed Alam, an honest, skilful and patriotic spirit, has played a unique role in this country as a leader of the financial sector."
Khorshed Alam is survived by his wife, four sons, and numerous admirers. The entire banking community, including the Bangladesh Bank, is deeply mourning his death. They expressed their condolences to the bereaved family and prayed for the departed soul.
Khorshed Alam founded the "Bangladesh Association in New England" in the United States in 1971 and worked for the Liberation War from there.