Dhaka, March 16 -- Mohammad Ayub Mia, chairman of state-owned Sammilito Islami Bank PLC, has resigned.

He submitted his resignation letter to the Secretary of the Financial Institutions Division (FID) under the Ministry of Finance on Monday.

In his resignation letter, Ayub Mia, a former government secretary, cited personal reasons for stepping down.

He was appointed as the bank's first chairman on December 7 last year following its formation.

Sammilito Islami Bank was established by merging five Shariah-based banks that were struggling with severe liquidity crises. The banks are Exim Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank, and Union Bank.

The bank has an authorized capital of Tk 40,000 crore and a pa...