Protest foils Islami Bank's board meeting

An attempt by Islami Bank Bangladesh PLC to hold a board meeting today, aimed at formally introducing its newly appointed chairman, was thwarted amid protests by members of a customer platform opposing the appointment.

The board meeting, initially scheduled to be held physically, could not take place due to demonstrations by the Islami Bank Customer Forum.

The bank later obtained approval from Bangladesh Bank to hold the meeting virtually, but that effort also failed as protesters continued their agitation.

On May 24, late in the evening, Bangladesh Bank appointed Md Khurshid Alam, a former deputy governor, as chairman of Islami Bank, hours after the previous chairman resigned. The appointment was made a day before the country entered a nearly week-long Eid holiday.

Alam was among the top Bangladesh Bank officials who were forced to leave the central bank by more than a hundred protesting officials on August 6, 2024, a day after the fall of the Sheikh Hasina-led government following a popular uprising in July of that year.

Today's board meeting was scheduled for 2:30pm at the bank's head office, where the newly appointed chairman was expected to preside. However, the meeting could not proceed because of the protest.

Subsequently, Bangladesh Bank approved the bank's request to conduct the meeting online.

However, according to witnesses, protesters gathered outside the managing director's office and continued their demonstrations, preventing the virtual meeting from being held.

Several police officials were seen inside the head office during the day.

Witnesses said law enforcement personnel encouraged the bank's management to proceed with the online meeting.

Leaders of the Customer Forum alleged that police and Detective Branch (DB) officials were pressuring the managing director to hold the meeting virtually.

The protest continued in front of the bank's headquarters throughout the day. Demonstrators reiterated their demand for the cancellation of Khurshid Alam's appointment as chairman.

They also called for the return of businessman S Alam to Bangladesh, his arrest, and the recovery of funds allegedly siphoned abroad.

The forum further announced a nationwide human chain programme in front of all Islami Bank branches on June 2.