The government has appointed Kazi Shayrul Hasan as the new chairman and Abedur Rahman Sikder as the new managing director (MD)/CEO of Sammilito Islami Bank for a period of three years. The appointments were made by the Financial Institutions Division of the Ministry of Finance through two separate letters issued on Monday.
Kazi Shayrul Hasan, previously the managing director of multinational financial institution Saudi-Bangladesh Industrial and Agricultural Investment Company (SABINCO), and Abedur Rahman Sikder, formerly the deputy managing director of Dutch-Bangla Bank, both have experience in the private sector.
Sammilito Islami Bank was formed by merging five shariah-based banks—EXIM, Social Islami, First Security Islami, Global Islami, and Union Bank—which failed to return depositors' money. The bank started with a paid-up capital of 35 billion taka, with the government contributing 20 billion taka and the remaining 15 billion taka coming from depositors' shares. The bank received approval on November 30 last year.
