Shakib dropped three rating points to 228 following two appearances at the backend of Bangladesh's recent five-match T20I series against Zimbabwe with Hasaranga joining the veteran in a share of the top spot, followed by Afghanistan's Mohammad Nabi on the second place, who is just 10 rating points adrift.
After some impressive performances against Bangladesh, Sikandar Raza of Zimbabwe moved up two spots to take fourth place, while Aiden Markram of South Africa dropped one spot to fifth ahead of the T20 World Cup.
After scoring 128 runs in three games against Pakistan, Ireland's opener Andrew Balbirnie climbed six spots to 53rd in the batters rankings, while teammate Harry Tector advanced 12 spots to 69th place on the same list after scoring 98 runs in the same series.
Pakistani left-hander Fakhar Zaman rose four spots to 57th on the updated rankings for T20I batters.
Meanwhile, Zaman's countryman Imad Wasim moved up 24 spots to equal 52nd on the list for T20I bowlers and jumped five places to equal 16th for T20I all-rounders.
Bangladesh pacer Taskin Ahmed jumped three places to 23rd and teammate Mustafizur Rahman moved up five spots to 25th in the latest bowlers rankings after some good performances against Zimbabwe.