Bangladesh Bank
বাংলা      

Mr. Shegufta Bakht Chaudhuri Former Governor, Bangladesh Bank

Shegufta Bakht Chaudhuri, widely known as S. B. Chaudhuri, held the esteemed position of the 4th Governor of Bangladesh Bank from April 12, 1987, to December 19, 1992. He was not only a distinguished economist but also a public servant with a remarkable career that spanned several decades.

Mr. Chaudhuri embarked on his career in government service during the 1950s, holding various significant positions, including serving as the 1st Secretary at the Pakistan Embassy in Yugoslavia.

His pivotal role as the Chief Controller of Imports and Exports (CCI&E) for East Pakistan showcased his dedication to fostering economic growth. Following Bangladesh's liberation in 1971, he was the Chief Controller of Imports and Exports for the newly formed Bangladesh. Mr. Chaudhuri was Additional Secretary in the Commerce and Finance Ministry and Secretary in the Petroleum Ministry and Internal Revenue Division (IRD) demonstrating his versatility and ability to excel in diverse domains.

One of his most notable appointments was as the Chairman of the National Board of Revenue (NBR) from January 1, 1983, to July 13, 1987. During this period, his visionary leadership left a lasting impact on the financial sector of the country.

His contributions extended to roles as an Adviser for the Finance/ Industries and Commerce Ministries, membership in the Caretaker Government of 1996, and an Adviser to City Bank in the 1990s.

Mr. Chaudhuri obtained his Bachelor of Economics degree from the University of Dhaka, setting the foundation for his future endeavors. He further honed his expertise by pursuing a Master's in Public Administration (MPA) at Harvard University, a testament to his commitment to academic excellence.

His tenure as Governor was marked by pivotal decisions, including advocating for the depreciation of the exchange value of Taka (BDT) to bolster the export sector's competitiveness. In 1990, a substantial devaluation of the Taka by 8-9 percent marked a shift towards determining the currency's value through continuous adjustments based on real effective exchange rates, implementing a strategy known as the flexible exchange rate policy. His contributions to the financial and economic sectors of Bangladesh were instrumental in shaping the nation's economic policies and fostering growth.

Mr. Chaudhuri was born in 1931 in Nabiganj, Habiganj, Sylhet. He breathed his last on 11/11/2020 at the age of 89. Mr. Chaudhuri's personal life was enriched by his family, including a son and a daughter.