Dhaka, Feb. 18 -- The government has appointed seasoned banker Nabil Mustafizur Rahman as managing director of the newly formed Sammilito Islami Bank PLC, following the merger of five troubled Islamic banks.

The appointment marks a key step in stabilising the consolidated lender, established under the Bank Resolution Ordinance, 2025.

The Financial Institutions Division, in a letter to the bank's chairman on Sunday, instructed the authorities to take necessary steps to appoint Mr Rahman as managing director for a three-year term from the date of his joining, in line with the Bank Company Act 1991.

Mr Rahman is currently an additional managing director at United Commercial Bank PLC (UCB).

He brings more than 31 years of experience in th...