Arastoo Khan. File photo

The Islami Bank Bangladesh Ltd yesterday appointed its director Arastoo Khan as the new chairman as the private bank brought major changes in key positions. 

Khan, who replaced Mustafa Anwar, was appointed at a board meeting at the city's Radisson Hotel.

Yousif Abdullah Al Rajhi was reelected vice-chairman and Prof Syed Ahsanul Alam elected vice-chairman, said the bank in a statement. 

Anwar was replaced a year before the expiry of his tenure, sources said.  

Khan, a former additional secretary at the Economic Relations Division, became a director of the bank as the representative of Armada Spinning Mills Ltd.

Until November 2015, Khan served as a member at the Planning Commission. From 2001 to 2014, he worked in the finance ministry as deputy secretary, joint secretary and additional secretary.

Khan sat on the boards of IFIC Bank Ltd, Karmasangsthan Bank and Agrani Bank Ltd. After retiring from government job, he became chairman of Bangladesh Commerce Bank Ltd, from which he resigned on Tuesday.

The Islami Bank appointed Khan as a director on December 15 last year. The central bank later approved the appointment.

The bank said major changes were brought in the executive committee, audit committee and risk management committee, with Abdul Matin, Md Zillur Rahman and Md Abdul Mabud becoming the new chairmen of those committees respectively.

The bank's managing director may also be changed.

A director of the bank board, seeking anonymity, said Mohammad Abdul Mannan, the current MD, earlier submitted his resignation.

Yesterday, the board read out the resignation letter and accepted it.

Mannan may be replaced by one of the managing directors of the nine newly established banks, said a source.

He has been serving as MD since May 2010, after working with the bank for about three decades.