Dhaka: Newly appointed chairman of Islami Bank Bangladesh Limited (IBBL) Arastoo Khan on Sunday said there will be no change the in principal objectives of the bank.
 
"The bank will operate its business on the loss-profit basis maintaining the ethics and codes of Islami Shariah while taking deposits, making any investment and offering services," he told reporters on the first day in office as the bank's chairman.
 
"We'll perform all activities without charging interest. The IBBL will continue to expand its business as a secure and welfare-oriented bank," he maintained.
 
IBBL, the country's largest private bank, went through a massive change in its Board of Directors in a meeting on Thursday last which appointed Arastoo Khan, a former secretary, as its chairman.
 
On the same day, IBBL Managing Director and CEO Abdul Mannan resigned while Abdul Hamid Miah replaced him. Prior to joining the IBBL, Hamid was serving as the managing director of Union Bank, another private bank.    
 
Arastoo Khan said though there have been changes in the board and top management, it will have no impact on the other officials of the bank except those involved in any wrongdoing.
 
He said the IBBL will strictly maintain Shariah Law in its operation and there will be no shift in ethics of the bank on the basis of which the bank was founded about 34 years ago.