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The central bank will dissolve the board of Islami Bank Bangladesh PLC within a couple of days.
Bangladesh Bank (BB) Governor Ahsan H Mansur told this at a press conference at the BB headquarters in the capital on Wednesday.
He said the central bank will form a new board of the Islami Bank. It will also take over all the shares of S Alam Group against its liabilities as per law. The group may be able to get back the shares if it repays the money.
The disclosure comes amid unrest in the largest Shariah-based bank in Bangladesh following the political changeover early this month.
On August 19, Islami Bank Bangladesh PLC has dismissed the top eight officials, including six deputy managing directors (DMDs), who were identified as collaborators of S Alam Group, from the bank.
On August 11, five people, including four officials of Islami Bank, sustained bullet injuries in a clash between two groups of the bank in front of its head office in Motijheel area of Dhaka.
The incident occurred when some officials under the banner of ‘Anti-Discrimination Banker Society’ were trying to hold a rally in front of the head office in the morning and some bank officials, who work for the S Alam Group, barred them from holding the rally, resulting in a scuffle between them.
Protestors demanded a restructuring of the board and removal of the top management of Islami Bank, which was taken over in 2017 by S Alam Group Chairman Mohammed Saiful Alam, his family members and the group’s associated entities under the patronage of the previous Awami League government.
