Nabil Mustafizur Rahman has been appointed as the first Managing Director (MD) and Chief Executive Officer of state-owned Sammilit Islami Bank PLC .
The Financial Institutions Department of the Ministry of Finance gave him this responsibility on a three-year contract on February 15, a bank official confirmed on Tuesday.
Nabil Mustafizur Rahman was previously Additional Managing Director of United Commercial Bank . He has over three decades of experience in the banking sector. Before joining UCB, he served as Country Chief Risk Officer of Habib Bank Limited ‘s Bangladesh operations and as DMD and Chief Risk Officer of BRAC Bank .
He will lead the new institution, formed by merging five Sharia-compliant banks—Exim Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank, and Union Bank. The combined Islami Bank has a paid-up capital of Tk 35,000 crore, of which the government has contributed Tk 20,000 crore; and an authorized capital of Tk 40,000 crore.