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Customers of Islami Bank Bangladesh PLC on Thursday resumed their protest, demanding the immediate formation of a full-fledged board of directors and implementation of a seven-point charter, including action against alleged banking irregularities and the confiscation of assets owned by the S Alam Group.
Under the banner of the Islami Bank Conscious Customers’ Forum, protesters held a rally and demonstration in front of Islami Bank Tower in the capital.
The forum alleged that although the bank’s previous board was dissolved months ago, a full board has yet to be appointed, leaving customers increasingly concerned about the safety of their deposits.
Speaking at the rally, Forum President Prof Nurunnabi Manik said public confidence in the bank would not be fully restored without a competent and credible board.
He said Bangladesh Bank had initially appointed a chairman but later reversed the decision following customer protests. The central bank subsequently dissolved the entire board and entrusted the bank’s management to a single executive official.
“It is unacceptable for one of the country’s largest banks to be run by a single official for such a long period,” he said.
Manik alleged that despite repeated assurances from Bangladesh Bank to form a full board promptly, the process had been unnecessarily delayed, raising questions among customers.
He urged the authorities to appoint a new board comprising experienced, honest and competent individuals, including some former directors with proven records.
The forum also announced fresh protest programmes. It said sit-ins would be held on July 14 in front of the main branches of Islami Bank in all district headquarters. If the demands remain unmet, a nationwide rally involving customers from across the country will be held on July 18.
Welcoming the government’s initiative to repeal Section 18(A) of the Bank Company Act, Manik urged lawmakers to pass the amendment quickly, saying it would prevent individuals linked to bank looting from serving on bank boards in the future.
He also demanded the immediate publication of a gazette notification formally abolishing the proposed “haircut” measure for customers of the merged Islamic banks.
The forum further called for the confiscation of the movable and immovable assets of the S Alam Group and others accused of banking irregularities and loan fraud, with the recovered assets to be adjusted against outstanding bank liabilities. It also demanded that those responsible for alleged bank looting be brought to justice.
Another forum member, Yasin, said the absence of a board had created uncertainty among customers over the bank’s future. He called for the reinstatement of experienced and widely accepted directors who had served before 2017.
He also urged the government to recover funds allegedly laundered abroad, strengthen efforts to recover defaulted loans and use the confiscated shares and assets of the S Alam Group to offset the bank’s outstanding loans.
A large number of customers joined the rally before marching from Islami Bank Tower towards the National Press Club.
The forum warned that it would announce tougher programmes if its seven-point demands, including the immediate appointment of a full board, are not met.
