Protests demanding the resignation of Islamic Bank's new chairman, Mohammad Khurshid Alam, continued today. The protests, organized by the Conscious Customer Forum, began at 9:30 AM in front of the bank's head office in Motijhil. The forum is also demanding the resignation of all board members.
The protests follow the resignation of the previous chairman, M Zubaidur Rahman, on the last working day before Eid. Bangladesh Bank appointed Alam as the new chairman the same day. The Conscious Customer Forum has been holding protests across the country since then.
The forum is also demanding the return of Alam and legal action against him, as well as the recovery of embezzled funds. Police intervened in a rally on Monday, using baton charges, water cannons, and sound grenades, injuring around 25 customers, according to the forum.
The bank's board meeting was canceled due to the protests but was later held online with Bangladesh Bank's approval. The managing director and company secretary were absent from the meeting. The forum is now demanding the resignation of all board members.
In 2017, the S Alam Group took control of Islamic Bank with the help of intelligence agencies. The group lost control after the 2024 popular uprising that led to the fall of the Awami League government. Since then, independent directors appointed by Bangladesh Bank have been running the bank.
Bangladesh Bank spokesperson Arif Hossain Khan told journalists that a political party is interfering with Islamic Bank's decisions. He emphasized that no bank will accept political influence and that street protests will not change the central bank's decisions.
