Former government secretary Mohammad Ayub Mia has resigned as chairman of the board of directors of the newly formed state-owned Sammilito Islami Bank PLC.
He submitted his resignation letter on Monday to the secretary of the Financial Institutions Division under the Ministry of Finance.
In his letter, Ayub Mia cited personal reasons for stepping down from the post.
The government had appointed him as the first chairman of the bank’s board of directors on 7 December last year.
Sammilito Islami Bank was created through the merger of five Islamic banks facing liquidity crises — EXIM Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank.
The government took the initiative to form the integrated bank in an effort to restore financial stability to the struggling institutions.
Sources said the authorised capital of the new bank has been set at Tk40,000 crore, while the paid-up capital stands at Tk35,000 crore. Of this amount, the government has provided Tk20,000 crore, while the remaining Tk15,000 crore will come from the shares of depositors of the concerned banks.
Meanwhile, uncertainty also surrounds the appointment of the bank’s managing director (MD).
Earlier, after completing various procedures, the government appointed United Commercial Bank’s additional managing director Nabil Mustafizur Rahman as MD.
However, he did not take charge, citing personal reasons.
As a result, the Financial Institutions Division of the Ministry of Finance has issued a new notification to appoint another managing director.
