Also added to the committee are Suzie Bates, Ian Bishop and Kumar Dharmasena.
According to media release uploaded on MCC's website, it states: "As approved at MCC's Annual General Meeting in May, former England and Middlesex captain Mike Gatting is the new chairman of the committee, taking over from another former England captain, Mike Brearley."
Gatting, who ended an illustrious playing career in 1998, has spent much of the last decade in cricket administration with the England & Wales Cricket Board, and also served as MCC President during the 2014 Lord's Bicentenary year.
He was previously a member of the World Cricket committee from its inception in 2006 until 2012.
Shakib Al Hasan is regarded as one of Bangladesh's finest players since they were awarded the Test status in 2000, with the all-rounder having played 51 Test matches and 177 One-day Internationals.
The 30-year-old also has vast global experience of domestic cricket, particularly in the T20 format.
Former West Indies captain Jimmy Adams, and Charlotte Edwards, who led England women to back-to-back Ashes triumphs, have both now relinquished their roles on the committee, having first been appointed in 2012.
"I feel truly humbled that MCC have chosen me to be a member of the prestigious World Cricket committee, and I thank the club for bestowing me with such an honour," Shakib Al Hasan said.
Gatting, who will chair a WCC meeting for the first time in Sydney, commented: "We are delighted to welcome the four new members who will all have a great deal to offer the committee.
"Shakib is the first Bangladeshi player to have joined the committee and has great experience of the world game across all formats, both domestically and internationally, and we look forward to his contributions along with the rest of the new additions.
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