Business Report :
The government has called for applications to fill the post of Managing Director and CEO of Sammilito Islami Bank, on a three-year contract. The application window ends on 22 December 2025.
Under the finance ministry’s notification, eligible candidates must hold a postgraduate or master’s degree preferably in economics, finance, accounting, banking, management, or business administration from a recognised university. Additional credentials such as CFA, FCA, CMA, CPA, ACCA, AIBB, or internationally recognised Islamic?finance certifications will be considered a plus.
Applicants must submit a CV, cover letter outlining suitability, full work history, and evidence of strong risk-management capability. The age limit is set between 45 and 60 years.
Candidates need at least 20 years’ banking-sector experience, including 10 years in core commercial banking and risk management, along with three years of continuous service at top senior levels (managing director, deputy managing director or equivalent). Expertise in Islamic banking operations, Shariah governance, Islamic accounting, profit-sharing mechanisms and Islamic risk management will be mandatory.
This recruitment drive comes shortly after the formal establishment of Sammilito Islami Bank – formed by merging five financially troubled Shariah?based banks: First Security Islami Bank, Global Islami Bank, Social Islami Bank, EXIM Bank, and Union Bank. The new entity officially began operations on 2?December?2025 after receiving its final licence from Bangladesh Bank on 1?December.
Former senior?secretary Mohammad Ayub Miah has been appointed as the bank’s chairman. The newly merged bank carries a paid?up capital of Tk?35,000?crore, comprising Tk?20,000?crore from government capital injection and Tk?15,000?crore converted from depositors’ shares. Its authorised capital is set at Tk?40,000?crore.
The consolidation is part of a sweeping reform under the newly enacted Bank Resolution Ordinance 2025, aimed at restoring governance, ensuring accountability, and rebuilding public trust in the Islamic banking sector.
Regulators emphasize that depositor funds will be safeguarded – small depositors will be allowed to withdraw up to Tk?200,000 starting next week, while a structured plan is being developed for repayment of larger deposits.
Officials say the new leadership is expected to modernize operations, strengthen risk management, implement robust compliance mechanisms, and explore growth avenues in Islamic finance products, while ensuring transparency and stability in the merged bank’s early operational phase. The move is seen as a key step to revitalize the struggling Islamic banking sector and restore confidence among depositors and investors.
