Abedur Rahman joins Sammilito Islamic Bank as new MD

Abedur Rahman Sikder has officially joined as the Managing Director (MD) of newly formed Sammilito Islamic Bank PLC, ending weeks of uncertainty over the appointment.

He assumed office on Thursday (July 16), bank officials confirmed.
Earlier, on June 29, Bangladesh Bank issued a no-objection certificate (NOC) approving the appointment of Sikder, who had been serving as Deputy Managing Director (DMD) of Dutch-Bangla Bank PLC. The bank's board had approved his appointment on June 23. He formally joined the bank after completing the required formalities.

The appointment comes at a critical time, as Sammilito Islamic Bank has been operating without a full-time managing director for an extended period. Stakeholders expect the new MD to accelerate the integration of the assets, liabilities, workforce and technology platforms of the five Shariah-based banks�"EXIM Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank and Union Bank�"which were brought under a single entity following a severe financial crisis.

Officials also expect faster progress in approving large transactions, implementing the bank's restructuring plan, finalising its organisational structure and facilitating repayments to depositors.

The government established Sammilito Islamic Bank under the Bank Resolution Scheme, 2025 by merging the five Shariah-based banks that had faced acute liquidity problems and were unable to repay depositors.