Zubaidur Rahman appointed chairman of Islami Bank
The decision was made at a board meeting today (22 July), which was also chaired by Zubaidur himself.
Dr M Zubaidur Rahman, an independent director of Islami Bank Bangladesh PLC, has been elected as the new chairman of the bank.
The decision was made at a board meeting today (22 July), which was also chaired by Zubaidur himself, a senior official of the bank confirmed the matter to The Business Standard.
The appointment follows the resignation of the former chairman, Md Obayed Ullah Al Masud, who stepped down on 17 July amid allegations raised by Bangladesh Bank.
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Zubaidur brings decades of international academic and financial experience to the position. He began his career in 1975 as a lecturer in the Department of Finance at Dhaka University and later obtained a Ph.D. in Finance from the University of Manchester, UK.
He has held senior academic roles globally, including positions at the State University of New York, Bocconi University in Italy, and Moscow State University in Russia.
As a former senior staff member of the World Bank, Zubaidur played a crucial role in enhancing financial transparency, accountability, and governance in over 70 countries across multiple continents.
He was instrumental in launching the "Standards and Codes" initiative aimed at strengthening national financial systems.
Zubaidur also serves as the founder and vice chancellor of ZNRF University of Management Sciences (ZUMS), and is widely expected to bring visionary leadership and global expertise to Islami Bank at a critical time of reform and rebuilding.
On 22 August, the Bangladesh Bank restructured Islami Bank's board of directors, appointing Obayed Ullah Al Masud, a former managing director of state-owned Sonali and Rupali banks, as chairman.
On 14 July, Bangladesh Bank summoned him following various allegations, and he was subsequently asked to resign.
