First Security Islami Bank (FSIB) has fired a newly appointed deputy managing director over his alleged involvement in irregularities at his previous place of employment, Social Islami Bank Limited (SIBL).

"Your service in the bank is no longer required," reads the job termination letter signed by Syed Waseque Md Ali, managing director of the FSIB, and sent to the dismissed official, Md Akmal Hossain, at the beginning of this week.

The letter mentioned that the SIBL had officially informed the FSIB of having discharged Hossain from service on December 19 this year.

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"In this situation, we have no option but to cancel your joining in our bank service and advise you to refund all the emoluments you received from this bank from the date of joining," read the termination letter.

Hossain had joined the FSIB as deputy managing director on September 29 this year, showing his letter of resignation from the post of senior executive vice-president at the SIBL.

He had served the SIBL's international division from 2012 to 2022. The Daily Star came to know of an allegation that Hossain was involved in various irregularities related to foreign trade at the SIBL which benefited S Alam Group, a Chattogram-based conglomerate.

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The Group had taken a huge amount of loans from a number of banks, far exceeding their single borrower exposure limit.

"Social Islami did not show any specific reason for my dismissal and First Security also did not want to hear anything from me before cancelling my appointment," Hossain told The Daily Star yesterday.

"I was not involved in any irregularity at Social Islami, rather I was awarded for foreign trade achievements in the bank," he said.