The Bangladesh Bank has reportedly agreed in principle with a seven-point set of demands raised by the Islami Bank Conscious Customer Forum, including calls for the trial of individuals, such as S Alam and others, accused of allegedly siphoning off funds from banks during the previous government’s tenure.
Forum convener Nur Un Nabi made the disclosure to this correspondent following a meeting with the Bangladesh Bank Deputy Governor Kabir Ahmed on Wednesday. A central bank official has confirmed this news.
He said the central bank had expressed broad concurrence with the proposals aimed at restoring governance, accountability and public confidence in the Islamic banking sector.
“No individual with involvement in financial irregularities or moral questions should be appointed as chairman of any Islamic bank. Similarly, members of the board must be selected on the basis of integrity, professionalism and non-partisanship,” he said.
Nur Un Nabi added that if the proposed reforms are implemented in full, it would send a “positive signal” to customers nationwide and contribute significantly to stabilising and strengthening the banking sector.
According to the press release, the forum placed seven key demands before the central bank, focusing on governance reform, asset recovery and institutional accountability.
These include the immediate formation of a fully independent and professional board comprising honest and experienced individuals in consultation with stakeholders, and the restoration of what it described as the “original ownership structure” of Islami Bank, altered in 2017.
The forum also called for the establishment of a special tribunal to expedite trials of individuals allegedly involved in large-scale financial irregularities, including what it described as “systemic looting” facilitated during the previous administration.
It further urged measures to restore stability in the banking sector by avoiding controversial policy decisions and curbing what it termed misleading propaganda on social media.
Other proposals include forming a special task force to recover laundered money from abroad, seizing domestic and foreign assets of alleged defaulters, and establishing a dedicated cell within financial courts to expedite asset liquidation for debt recovery.
The forum also demanded amendments to Section 18/K of the Bank Companies Act to permanently bar identified financial offenders and their beneficiaries from holding positions in the banking sector.
In addition, it called for the withdrawal of a recent parliamentary statement made by the Home Minister regarding Islamic banks, arguing that it had created confusion in the financial sector.
The Bangladesh Bank has not yet issued a formal public statement confirming its position on the demands.
