Islami Bank PLC’s additional managing director Mohammad Qaisar Ali resigned on Wednesday.
He submitted the resignation letter to the bank's Managing Director Mohammed Monirul Mowla.
The Islami Bank Foundation (IBF) has revoked all terminations and forced resignations made after January 1, 2016, across its sister concerns and organizations. This decision was announced in an official order signed by Mohammad Ali, the acting executive director of IBF and CEO of Islami Bank Community Hospitals.
The order, issued on August 6, states: "We hereby cancel all previously issued letters concerning the voluntary/forced/mandatory dismissal or termination of staff from the Islamic Bank Foundation (IBF) and all institutions operated by IBF from January 1st 2016."
Additionally, it specifies that all affected individuals are to be reinstated from the date of their termination. Letters informing these staff members to rejoin their duties will be sent without delay.
This decision comes amid ongoing protests, where demonstrators accuse S Alam Group, alleged to have taken control of the bank with the support of the previous government, of hiring and promoting individuals without following proper procedures. Protesters claim that these actions have sidelined many long-serving employees.
Anisur Rahman, a senior official of Islami Bank's CBA, declared that no executives who joined the bank after 2017 would be allowed to remain employed. The protest featured strong participation from leaders who felt marginalized over the past seven years, marked by slogans demanding justice.
Rahman further stated: "Executives who joined the bank after 2017 will not be permitted to remain employed there. All illegal appointments made without tests since 2017 will be cancelled, and those who were unlawfully dismissed during this period will be reinstated."
This move aims to address the grievances of long-serving employees and ensure fair employment practices within the organization.
"Those who were denied promotions over the last seven years will be given their due promotions,” he added.
Islami Bank Foundation (IBF) is a social welfare-oriented organization created by Islami Bank Bangladesh Limited according to its official website.