Nazmul made new chairman

Arastoo resigns as IBBL chairman

Arastoo resigns as IBBL chairman

Dhaka, Apr 17 (Just News): The Islami Bank Bangladesh Limited (IBBL) chairman, Arastoo Khan, and Islami Bank Foundation chairman Syed Manzoorul Islam have resigned, after holding the positions for only 15 months.

Both of them are former bureaucrats.

Officials said IBBL board of directors accepted their resignation letters in a meeting on Tuesday.

The board also proposed Dhaka University's professor Nazmul Hassan as IBBL's new chairman. He became Islami Bank’s one of the directors on behalf of Armada Spinning Mills.

Asked about his resignation, Arastoo said, ''I resigned as I failed to manage my workload. I was too busy to give time to my family.''

On 5 January 2017, Islami Bank underwent major changes in its three top positions -- chairman, vice chairman and managing director.

The changes were apparently brought in the Shariah-based bank following instructions of the government high-ups.

Accordingly, Arastoo Khan, an ex-bureaucrat who was chairman of Bangladesh Commerce Bank, became chairman of Islami Bank, replacing incumbent Mustafa Anowar. At the board of directors' meeting, the then vice chairman Azizul Haque too resigned.

The board of directors had also replaced the bank’s managing director (MD) Mohammad Abdul Mannan by Union Bank’s MD Abdul Hamid Mia.

As a representative of Ibn Sina run by Bangladesh Jamaat-e-Islami leaders, Mustafa Anowar was serving as the chairman of the bank. He also resigned from the post of director as well as from the post in the bank’s foundation.

Arastoo Khan had to resign as chairman of Bangladesh Commerce Bank to join the Islami Bank. He became Islami Bank’s one of the directors on behalf of Armada Spinning Mills.