After a day of protests, police raids and dramatic events, the board of directors of Islami Bank Bangladesh PLC was finally held on Monday (June 1) night, where the resignation of the bank's managing director (MD) Omar Faruk Khan was unanimously accepted.
According to bank sources, the board meeting began at around 9 pm on a virtual platform and lasted for about 40 minutes.
All members of the board of directors participated in the meeting. It was decided to continue the duties of additional managing director Altaf Hossain as the acting MD in the meeting.
An independent director of the board said on condition of anonymity that the meeting began like a regular board meeting. After discussing the issues on the agenda, Omar Faruk Khan's resignation was accepted.
Earlier in the day, a tense situation was created in front of the Islami Bank Tower in Dilkusha, the capital.
The protesters held a protest program under the banner of the 'Islami Bank Customers Forum' demanding the cancellation of the appointment of newly appointed Chairman Md Khurshid Alam and the reinstatement of former MD Omar Faruk Khan.
In the morning, the protesters clashed with the police over the human chain program. The police used water cannons and sound grenades to control the situation. Several people were reported injured in this.
The protesters alleged that force was used in the peaceful program.
However, the law enforcement agencies claim that they have taken measures to maintain public safety and normal traffic.
According to bank sources, the board meeting was supposed to be held at the head office at 2:30 pm as per the pre-scheduled time. But as the protest continued in front of the head office, chairman Khurshid Alam could not attend the meeting in person. Later, with the approval of Bangladesh Bank, an initiative was taken to organize the meeting online.
However, due to pressure from the protesters and the tense situation inside the head office, the first round of online meetings also failed.
Although it was not possible to organize the meeting until the evening, the board meeting was finally held virtually at night.
After the resignation of Islami Bank Chairman Professor M. Zubaidur Rahman on May 24 before Eid, Bangladesh Bank appointed former Deputy Governor Md. Khurshid Alam as the new chairman on the same day.
Since then, a political party associated with the bank has been opposing the appointment under various banners. Programs were held in different parts of the country even during the Eid holidays.
Meanwhile, Bangladesh Bank spokesperson Arif Hossain Khan said that interference in the management of the bank by any political party or group is unacceptable.
He also commented that there is no opportunity to bring about change by protesting on the streets against the central bank's decision.