Senior Management

Syed Waseque Md Ali

Managing Director

Md. Mustafa Khair

Additional Managing Director

Md. Masudur Rahman Shah

Deputy Managing Director

Md. Sirajul Islam

Deputy Managing Director

Syed Waseque Md Ali

Managing Director

Mr. Syed Waseque Md Ali has been appointed as the Managing Director of First Security Islami Bank PLC. in March 2015 and performing his prestigious role. Prior to this, he was contributing as Managing Director (Current Charge) of the Bank. Mr. Ali, a seasoned banker with more than 37 years of extensive and versatile banking experiences on diversified, welfare and next generation banking business, began his banking career as an Officer with IFIC Bank Ltd. and performed there till 1996. Afterwards, he served Dutch-Bangla Bank Ltd. for about a decade till 2008. In the same year he joined First Security Islami Bank PLC. as Senior Executive Vice President and was promoted to Deputy Managing Director in October 2011. Mr. Ali has obtained his Bachelor Degree in commerce and accomplished the MBA.

During his rich and eventful Banking Career, Mr. Ali has attended numerous local and international banking workshops concentrates on product marketing, deposit mobilization, credit portfolio management, leadership, foreign trade, rules and guidelines of foreign trade organized by Bangladesh Institute of Bank Management (BIBM), various trade chambers, international banks, regulatory bodies etc. of which below are highly regarded.

• Attended “Breakthrough Leadership” program on November 3rd & 4th, 2015 in Malaysia, jointly organized by Bangladesh Institute of Bank Management (BIBM) & The iclif Leadership and Governance Centre.
• Attended FCI Factoring Workshop from 16th to 18th January, 2017 in Amsterdam, Netherlands.
• Attended Dun & Breadstreet-CEO Conclave from February 16 to 26, 2018 in the United Kingdom.
• Attended SIBOS 2019 conference in the UK from 20th September to 2nd October on 2019.
• Attended 5th Annual Bilateral US-Bangladesh CFT Banking Dialogue under OPDAT program of the US Department of Justice held in North Carolina, USA from 25.10.2019 to 03.11.2019.
• Member, Rotary Club of Dhaka North: President 2002-3; served in Rotary District 3281 as LT Governor, Deputy Governor, Assistant Governor & Committee Chairman.

Abdul Aziz

Additional Managing Director

Mr. Abdul Aziz has been promoted Additional Managing Director of First Security Islami Bank PLC. Prior to the promotion, he was Deputy Managing Director of the Bank. Mr. Aziz obtained B.Sc (Honors) and M.Sc degree from University of Dhaka.

Mr. Abdul Aziz joined First Security Islami Bank PLC. as Senior Assistant Vice President (SAVP) in 1999. He started his Banking Career at National Bank Ltd. in 1983. He has a long track of nearly 35 years banking experience. Mr. Abdul Aziz served the bank at various capacities including as Head of Human Resources Division, Head Office & Manager at different braches like Dilkusha Branch, Dhanmondi Branch of First Security Islami Bank PLC. in his wide banking career. He attended at many workshops, trainings and seminars at home and abroad extensively.

Md. Mustafa Khair

Additional Managing Director

Mr. Md. Mustafa Khair has been promoted Additional Managing Director of First Security Islami Bank PLC. Prior to the promotion, he was Deputy Managing Director of the Bank. Mr. Md. Mustafa Khair having a B.Com (Honours) in Finance and M.Com in Banking from University of Dhaka joined First Security Islami Bank PLC. as Senior Vice President (SVP) in 2006. He started his Banking Career at Bangladesh Shilpa Rin Sangstha (Presently Bangladesh Development Bank Limited) in March 1989. He also worked International Finance Investment and Commerce Bank Limited (IFIC Bank) in November 1989. Then he joined Dutch Bangla Bank Limited in March 1998 as Assistant Vice President. He has got nearly 26 years of banking experience and developed a wide range of expertise in banking. Mr. Md. Mustafa Khair served as Manager of Dhanmondi Branch, Banani Branch, Gulshan Branch and as the Head of Marketing & Development Division, Head Office of First Security Islami Bank PLC. in his wide banking Career.

During his elongated Banking Career, he has undergone various training and participated in seminars, workshops & symposiums on Banking and Finance both at home and abroad.

Md. Masudur Rahman Shah

Deputy Managing Director

Executive Committee

FSIB has constituted 05 member executive committee of the board as per Bangladesh Bank guidelines to ensure corporate governance in the business of which managing director of the Bank is Ex-officio Member. The executive committee of the board is responsible for the development of policy and strategy regarding smooth operations and business expansion of the bank to maximize shareholders wealth and to protect other stakeholders’ interest in the company. Mr. Mohammed Saiful Alam, Chairman of the board of Directors, is also the Chairman of the present Executive Committee of the bank. He is a very dynamic person and leading the executive committee of the bank to protect the interest of the relevant parties and to ensure transparency in all levels.

Audit Committee

FSIB has formulated an audit committee which plays an effective role in formulation of efficient and secured banking system. The Audit Committee is comprised of three members of the Board of Directors. As per corporate governance guidelines, the Chairman of the Audit Committee has profound knowledge and expertise in the field of finance, accounting or auditing standard.

Risk Management Committee

FSIB has also formulated 03 members of Risk Management Committee as per Bangladesh Bank BRPD Circular No: 11, dated: 27.10.2013.

Management & Head of Divisions

FSIB is functioning with a highly professional management team headed by the Managing Director Mr. Syed Waseque Md. Ali. Among other senior executives, 01 AMDs, 02 DMDs, 01 Principal at Training Institute, 12 EVPs, 11 SVPs, 42 VPs, 40 SAVPs, 113 AVPs and 188 FAVPs are discharging their services for achieving organizational goals. Top management of the Bank is supported by highly qualified and dedicated human resources numbering around 4287 officials (as on 01-March, 2022) in different grades.

For the smooth functioning of the Bank, the following committees have been formed:

• Management Committee (MANCOM) comprising of senior members of the management headed by the Managing Director of the Bank. Two Additional Managing Directors, Head of IAD, Head of IMRD, Head of BCS and Head of IC&CD are the member of the committee and the Head of HRD is the member secretary for the same. The committee meets on regular basis and discusses about policy formulation, modification of existing policies and others relevant issues.
• Asset Liability Management Committee (ALCO) headed by the Managing Director, is responsible for balance sheet risk management. The committee participates in the monthly ALCO meeting and, reviews the liquidity position, rate of interest on deposit and lending, and the ALCO papers on presentation by treasury back office on the position of profit, deposit, investment, cost analysis, maturity bucket of deposit & investment, balance sheet, profit and loss account and many other issues relating to banks business and assets-liability management. Five relevant divisional heads including DMDs are the members and VP & Head of Treasury of the Bank is the member secretary of the committee.

FSIB being a third generation progressive Islamic Shariah Based private commercial bank, it always emphasizes on the development of its manpower to provide quality services to its clients. It believes that the factors which help the banks to survive and differentiate it from other banks are closely interlinked with the quality of services and satisfaction of clients and these depend on the qualification of employees, efficiency & effectiveness of work. As our human resources give the organization a significant competitive edge, we continue our policy of recruiting the best professionals and implement programs to develop and retain high quality employees for facing challenges of 21st Century. The bank is making equal opportunity for new talents in its process of recruitment and selection. It is continuing its efforts towards the development of its manpower by providing required trainings, workshops, seminar etc. in home and abroad to make them well equipped to provide quality services to its customers. It arranges training and workshop in home and abroad for its top management to formulate and implement appropriate policies for the betterment of the Bank. It also arranges priority-based trainings and workshops to make its employees compliant to its regulatory body and helps its employees for career development.

Corporate governance is about how corporation is running its operations to achieve its corporate objectives. Bangladesh Bank (BB) gives emphasis on implementing corporate governance among the financial institutions and to do so, BB emphasizes implementation of the guidelines issued by them for improving corporate governance in banking sector. Good Corporate Governance practices enhance an entity’s corporate image and market credibility, which attracts capital and increases its borrowing power. These can be reflected in the quality of financial reporting and disclosures; strength of internal control system and internal audit function induction of professionally competent, independent non-executive Directors on corporate Board; formation of Audit Committee; delegation of authority to executives and staff; protection of corporate governance for strengthening organizational strength. With a view to ensure effective participation and deep interest in the affairs of the company and as per Bangladesh Bank BRPD Circular No: 11, dated 27.10.2013 the bank has set up the following 3 committees:

• Executive committee
• Audit Committee
• Risk Management Committee

Shariah Board