Dhaka, March 16 -- Mohammad Ayub Mia, the chairman of the Sammilito Islami Bank, has resigned from his post just months after the state-owned bank's formation.

The former secretary submitted his resignation to the Ministry of Finance on Monday.

Speaking to bdnews24.com, Ayub Mia cited "personal reasons" for his departure.

"I felt that it would be best to step down now," he said.

Sammilito Islami Bank was established by merging five crisis-hit Shariah-based private lenders: EXIM Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank.

The central bank issued the final licence for the new entity on Dec 1 last year, with Ayub as the head of the board.

The government also recently appointed Nabil Mustafi...