Economist M Masrur Reaz has stepped aside as the chairman of the Bangladesh Securities and Exchange Commission (BSEC), just four days after his appointment was announced by the interim government.

"I feel that at this critical juncture of the nation, I will be best able to serve in my current role as an economist to promote necessary policy analysis and dialogue, and putting forth actionable policy and reform ideas for the betterment of our economy, with particular focus on trade, investment, and financial development," he said in a message to The Daily Star.

"I would like to take the opportunity to express my gratitude to the interim government for appointing me as the chairman of the regulatory body," he said.

"Despite my heartfelt appreciation, I have decided not to accept the position of BSEC chairman," he said.

The interim government appointed Masrur Reaz to the stock market regulatory body, replacing Shibli Rubayat-ul Islam who resigned after Sheikh Hasina stepped down and fled to India amid a mass uprising.