Mohammad Ayub Mia has resigned from the post of chairman of the board of directors of state-owned Sammilit Islami Bank. He formally submitted his resignation to the secretary of the Financial Institutions Division of the Ministry of Finance on Monday.
In his resignation letter, Ayub Mia stated that he decided to step down from his duties citing personal reasons. He took charge as the first chairman of the newly formed bank on December 7 last year. Ayub Mia is a former secretary to the government.
Sammilit Islami Bank was formed by merging five Islamic banks facing liquidity crisis—Exim Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank. The bank’s authorized capital has been set at Tk 40,000 crore and paid-up capital at Tk 35,000 crore.
Of the paid-up capital, the government has directly invested Tk 20,000 crore. The remaining Tk 15,000 crore is expected to come from share participation by depositors.
Currently, a notification has been issued by the Financial Institutions Division of the Ministry of Finance for the appointment of a new Managing Director.