Nabil Mustafizur Rahman appointed first MD of Sammilito Islami Bank
Nabil has been given a three-year contract, becoming the first MD of the bank formed by merging five Shariah-based banks.
Nabil Mustafizur Rahman has been appointed as the managing director (MD) and chief executive officer (CEO) of the state-owned Sammilito Islami Bank PLC.
Before this, he served as the deputy managing director (DMD) and later additional managing director (AMD) at United Commercial Bank (UCB).
A bank official confirmed the appointment to The Business Standard today (17 February), saying the Ministry of Finance's Financial Institutions Division approved it on Sunday (15 February).
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Nabil has been given a three-year contract, becoming the first MD of the bank formed by merging five Shariah-based banks.
He joined UCB in October 2024, with over 32 years of experience in the banking sector. He previously served as the country chief risk officer at Habib Bank Limited (HBL) Bangladesh.
Nabil joined UCB as DMD in 2018 and was promoted to AMD in 2020, overseeing risk management, Islamic banking, and transaction banking. Before UCB, he was DMD and chief risk officer at BRAC Bank.
He graduated from the Institute of Business Administration and earned an MBA in Finance and Management Science in 1993. He began his professional career in Hong Kong.
The new bank, formed by merging five banks- Exim, Social Islami, First Security Islami, Global Islami, and Union Bank was created after irregular loan practices pushed them into crisis.
Sammilito Islami Bank PLC has a paid-up capital of Tk35,000 crore, of which Tk20,000 crore is government capital and Tk15,000 crore comes from depositors' shares. The authorised capital is set at Tk40,000 crore.
