The International Cricket Council fined Mortaza and batsman Sabbir Rahman 20 per cent of their match fees because match officials deemed the duo had overstepped the mark.
The ICC also cautioned Buttler, who had reacted angrily to the dismissal following a TV replay.
"Actually we didn't do anything wrong so we shouldn't apologise," Mortaza told reporters in Chittagong.
"We just celebrated what we've felt. We don't have to say sorry for that. Whatever happened, match referee was there (to judge it)."
Mortaza said he had seen video footage of the row and defended Iqbal.
The ongoing three-match ODI series is currently locked at 1-1 after England won the first match by 21 runs and Bangladesh levelled with a 34-run win in the second match.
Mortaza said he hoped the Buttler incident would not affect their form in the crucial final match.
"Our team is completely normal and I am hundred per cent sure that my team is not thinking about this," the Bangladeshi captain said.
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