The Islami Bank PLC has terminated one additional managing director, five deputy managing directors, and two other officials who are known associates of the controversial business group S Alam.
Confirming the matter to The Business Post, bank sources say a letter has been issued in this regard on Monday afternoon.
Additional managing director JQM Habibullah, deputy managing directors Md Akij Uddin, Mohammad Sabbir, Miftah Uddin, Kazi Rejaul Karim and Md Abdullah Al Mamun have been terminated.
The other two terminated officials are Chief Anti-Money Laundering Compliance Officer (CAMELCO) Taher Ahmed Chowdhury and Islami Bank Training and Research Academy (IBTRA) Principle Md Nazrul Islam.
Meanwhile on Monday, former Chairman of Islami Bank Engineer Mustafa Anwar, Islami Bank Employees Welfare Union and Anti-Discrimination Bankers Society have sent a letter to Bangladesh Bank to dissolve the bank's board.
A letter, signed by the bank’s former chairman Engineer Mustafa Anwar read that in 2016, S Alam Group took control of the ownership and management of Islami Bank through a political decision of the government.
On January 5, 2017, the bank was illegally occupied with help from the state. After taking control, apart from the loan irregularities, there have also been irregularities in the recruitment of staff.
After S Alam Group took control of the bank, other shareholders were gradually forced to divest the bank. Before that group took control of the bank, the share of foreign investors was 52 per cent, now it has come down to only 13 per cent.
In this context, it has been demanded to take quick measures to ensure that the 82 per cent shares of the bank, which was purchased anonymously by the S Alam, cannot be transferred elsewhere.
Besides, through investigation, the situation of looting of the bank's assets should be presented to the public.
Apart from this, the current occupying board of directors should be dissolved and a new board of directors should be formed with fair, honest, skilled and qualified persons, the letter read.
