Dhaka: Chairman of Islami Bank Bangladesh Limited (IBBL) Arastoo Khan has resigned from his post.

Prof Nazmul Hasan, a teacher ofDhakaUniversityand an independent director of the bank, was nominated as the new chairman of the bank.

According to official sources at the bank, the resignation letter of Arastoo Khan was accepted by a meeting of the board of directors on Tuesday, reports the UNB.

The board also accepted the resignation of the Chairman of Islami Bank Foundation (IBF) Syed Manjurul Islam, who was also a director of the bank.

Both Arastoo Khan and Syed Manjurul Islam are former secretaries and were nominated at the board as directors by Armada Spinning Mills, one of the sponsors of the Islami Bank.

Prof Nazmul Hasan was also nominated as Chairman by the same sponsor Armada Spinning Mills.

Contacted Arastoo Khan said he resigned from the chairman post of IBBL on personal ground as he wants to spend more time with his family. ‘It was tough for me to give time to my family because of the heavy workload at the bank’, he said.

Arastoo Khan was made chairman of the IBBL onJanuary 5last year at a board meeting of the bank immediately after the removal of the then chairman Mostafa Anwar.

The then managing director of the bank Abdul Mannan and vice chairman Azizul Haque were also forced to resign from the bank at the same meeting at that time.