Right-arm paceman Jayed, who has played five tests but has yet to debut in ODIs, was picked for his ability to swing the ball as he demonstrated in the two-test series in New Zealand.
"In New Zealand, we saw that he could swing the ball. His bowling can be effective in English conditions," chief selector Minhajul Abedin told reporters in Mirpur after naming the 15-member squad led by all-rounder Mashrafe Mortaza.
Jayed's selection came at the expense of fellow paceman Taskin Ahmed, who missed the Zealand tour with an ankle injury.
"Taskin played his last ODI in October 2017 and it's been a long break for him," Minhajul said.
Mosaddek, who last played for Bangladesh in the Asia Cup in September, returned as a back-up all-round option as Mahmudullah nurses a shoulder injury.
"We have some injury concerns for Mahmudullah. Most probably he will not be able to bowl. That's why we have considered Mosaddek as a back-up," Minhajul said.
"He can bowl off-spin which can be a great asset for us in an event like World Cup."
Apart from Mahmudullah, the pace duo of Mustafizur Rahman and Rubel Hossain were also named in the squad despite injury concerns.
Mustafizur has not fully recovered from an ankle problem, while Rubel is nursing a side strain.
All-rounder Shakib Al Hasan has been named Mortaza's deputy while Mushfiqur Rahim is the wicketkeeper.
Bangladesh begin their campaign against South Africa at the Oval in London on June 2.
New Zealand, Australia and India have already announced their squads and others must follow suit by April 23. Injury replacements can be named until May 23.
Squad: Mashrafe Mortaza (captain), Tamim Iqbal, Liton Das, Soumya Sarkar, Mushfiqur Rahim (wicketkeeper), Mahmudullah, Shakib Al Hasan (vice captain), Mohammad Mithun, Sabbir Rahaman, Mosaddek Hossain, Mohammad Saifuddin, Mehidy Hasan Miraz, Rubel Hossain, Mustafizur Rahman, Abu Jayed
(Additional reporting by Rohith Nair in Bengaluru; written by Amlan Chakraborty; editing by Christian Radnedge)
