The application for a three-year contract should be submitted by December 22 this year

The government has sought applications by December 22 for the appointment of managing director and CEO of Sammilito Islami Bank on a three-year contract.

The finance ministry, in a notification, said applicants should hold a postgraduate or master's degree, preferably in economics, finance, accounting, banking, management, or business administration, from any recognised university.

Additional qualifications such as CFA, FCA, CMA, CPA, ACCA, AIBB and internationally recognised Islamic finance certifications will be considered added advantages.

Applications must include a curriculum vitae, a cover letter outlining the candidate's suitability for the role, overall work experience and sound risk management principles, along with all necessary supporting documents.

The age limit is a minimum of 45 years and a maximum of 60 years on the date of advertisement.

Candidates must have 20 years of experience in the banking sector, including at least 10 years in core commercial banking operations and risk management functions.

They must also have a minimum of three years of continuous experience directly below the level of managing director, CEO, additional managing director, deputy managing director or equivalent posts.

Applicants should have substantial expertise in Islamic banking operations, shariah governance, Islamic accounting, profit distribution mechanisms and Islamic risk management.

Mohammad Ayub Miah, former senior secretary, was appointed chairman of Sammilito Islami Bank last week.

Earlier, in a special board meeting of Bangladesh Bank, a decision was taken to merge five troubled Islamic banks—First Security Islami Bank, Global Islami Bank, Social Islami Bank, EXIM Bank and Union Bank—into a single entity.

The central bank formally handed over the operating licence on December 1, and administrative work has already begun at the bank's head office at Sena Kalyan Bhaban in Dhaka's Motijheel.

The new bank has a paid-up capital of Tk 35,000 crore, with Tk 20,000 crore contributed by the government and Tk 15,000 crore from depositors' shares.

The bank's authorised capital is Tk 40,000 crore.