The Board of Directors of the Islami Bank Bangladesh Limited (IBBL) has chosen Md Mahbub ul Alam as its new Managing Director (MD) and sought central bank’s ‘no-objection’ to the appointment.
Islami Bank Chairman Arastoo Khan said the decision was taken at a board meeting on Wednesday.
Mahbub, currently an Additional Managing Director (AMD) of the bank, will replace Abdul Hamid Miah, who is going to retire on February 9, 2018.
His appointment needs Bangladesh Bank’s approval as per the banking law.
The board of directors of the private backs can select the MD but needs ‘no-objection’ letter from the central bank before the final appointment.
Mahbub joined Islami Bank in early 1984 and was promoted to the AMD in 2015 after serving the bank in different capacities.
Born in Comilla, he did his post graduation in marketing from the University of Dhaka in 1982.