Photo: Collected
Former directors and officials are regaining control of several banks that were forcibly taken over during the Awami League government. In recent days, multiple top executives backed by Awami League supporters have resigned and left their positions at these banks.
Simultaneously, the original owners and their representatives have begun reclaiming control of banks that were seized by Awami League supporters. Notably, previous directors have already reasserted control over SIBL. Additionally, a faction of shareholders has staged a human chain protest against the current board of UCB. It has also been declared that no members of the S Alam Group will be permitted entry into Islami Bank. Furthermore, there are circulating rumors of an impending change in ownership at National Bank, which recently underwent a change in ownership.
On the other hand, there have been protests in some private sector banks including IFIC, ONE Bank and Bangladesh Commerce Bank. Besides, protests have taken place in the state-owned Sonali, Janata and Agrani banks demanding facilities and incentives. Officers protested against discrimination in promotion.
In this regard, Dr Ahsan H Mansur, the executive director of the Policy Research Institute (PRI) said, first of all, the law and order situation should be improved. Otherwise, no action on the economy will work. Apart from this, the unrest that has arisen in the past few days, including protests, agitations and taking control over the ownership of various banks, needs to be intervened on an urgent basis. It should be prevented so that no one can leave the bank with money at this moment.
It is known that the day after the resignation of the Sheikh Hasina, on August 6, the officials and employees of the bank announced that no one from the S Alam group would be allowed to enter the Islami Bank. Anisur Rahman, the top CBA leader of the bank, said that as many executives who came after 2017, they will not be able to enter this bank.
He further said that after 2017, all illegal recruitments will be cancelled. At the same time, those who have been illegally terminated will be reinstated. Meanwhile, the bank's Additional Managing Director Muhammad Qaiser Ali has resigned.
In 2017, S Alam Group took over ownership of Shariah-based SIBL. With the help of Bangladesh Bank and an intelligence agency, control of this bank was taken by picking up all the directors in the capital's Westin Hotel.
Last Thursday, the chairman, Major (Retd.) Dr. Rezaul Haque, then one of the directors Anisul Haque along with some directors went to the bank and sat in the boardroom and the room designated for the chairman. At this time, many officials gathered there and demanded to make the bank free from S Alam Group.
S Alam Group trustees, DMDs Abdul Hannan Khan and Mohammad Habibur Rahman were forced to resign under the pressure of the protesters present. However, as all the board members are absconding, there is uncertainty as to whether their resignations will be accepted or not.
In 2017, former Lands Minister Saifuzzaman Choudhury Javed's family removed all of the Partex Group from the board of United Commercial Bank (UCB). Last Thursday, under the banner of shareholders of the bank, a human chain was held to demand the trial of Saifuzzaman Chowdhury Javed and his family. At this time, they demanded the release of UCB Bank and their punishment from Saifuzzaman Chowdhury Javed and his family, who illegally smuggled Tk 12,000 crores of UCB Bank in London.
IFIC Bank was taken over by Salman F Rahman, private industry and investment adviser to the former Prime Minister Sheikh Hasina. He is said to have fled to India with Sheikh Hasina. The bank, which has a 32.75 percent shareholding of the government, is currently in turmoil. The officers and employees of the bank have raised the demand that the bank should be freed from Salman's encroachment.
Fahmida Khatun, Executive Director of the Center for Policy Dialogue (CPD) said, there was lack of good governance and accountability in the economy. Past governments have not done institutional reforms. The new government will have to deal with them.
Then order can be brought back to the economy. All in all, providing relief to the people from inflation, restoring order to the economy, ensuring good governance and accountability and institutional reforms should be the main economic priorities of the new government, she added.
Messenger/Disha
