Photo: Collected
An Additional Managing Director and five Deputy Managing Directors (DMDs) of Islami Bank, identified as affiliates of S. Alam Group, have been dismissed, along with a total of eight officials. They were removed under pressure from the current officials of the bank.
On Monday, August 19, the bank issued a letter regarding the dismissal. The information was confirmed to the media by Md. Mezbaul Haque, Executive Director and Spokesperson of the Central Bank.
Among the dismissed officials are Akij Uddin, the personal secretary to S. Alam Group Chairman Saiful Alam, and Miftah Uddin, who was in charge of loans at Islami Bank. Both served as DMDs and were responsible for the bank's loan distribution and human resources.
Other dismissed officials include Additional Managing Director J. Q. M. Habibullah and DMDs Mohammad Sabbir, Md. Rezaul Karim, Dr. Md. Abdullah Al Mamun, CAMLCO Taher Ahmed Chowdhury, and IBTRA Principal Md. Nazrul Islam.
Meanwhile, six banks under the control of S. Alam Group have been prohibited by the Bangladesh Bank from issuing new loans or renewing existing ones until further notice. Restrictions have also been imposed on opening import letters of credit (LC) in connection with loan distribution.
The banks under the control of S. Alam Group include Islami Bank Bangladesh, Social Islami Bank, First Security Islami Bank, Union Bank, Global Islami Bank, and Bangladesh Commerce Bank.
Since the fall of the Sheikh Hasina government, the current officials of the bank have been campaigning to free the bank from the influence of S. Alam and Potia. They are demanding the dissolution of the bank's board of directors and the prosecution of officials involved in irregularities in loan distribution.
Pro-S. Alam officials have been unable to access the bank since the fall of the Awami League government. Over the past seven years, approximately 10,000 officials from Saiful Alam's home region of Potia, Chattogram, have been recruited.
Messenger/Shahed
