This paper presents a high-speed bit-parallel systolic divider for computing modular division A($chi$)/B($chi$) mod G($chi$) in finite fields GF$(2^m)$. The presented divider is based on the binary GCD algorithm and verified through FPGA implementation. The proposed architecture produces division results at a rate of one every 1 clock cycles after an initial delay of 5m-2. Analysis shows that the proposed divider provides a significant reduction in both chip area and computational delay time compared to previously proposed systolic dividers with the same I/O format. In addition, since the proposed architecture does not restrict the choice of irreducible polynomials and has regularity and modularity, it provides a high flexibility and Scalability with respect to the field size m. Therefore, the proposed divider is well suited to VLSI implementation.