Business

Islami Bank MD forced out of office

Mohammed Monirul Moula, the managing director of Islami Bank Bangladesh, has not gone to his workplace since December 19 when he was forced to leave by a group of officials.

An additional managing director (AMD) of the bank, speaking on condition of anonymity, confirmed the development to The Daily Star.

He said Moula has been absent due to "internal issues".

Officials of the bank said Moula was working from home. The issue will be raised at a board of directors meeting scheduled for December 29, they added.

Neither Moula nor the bank's new chairman, Md Obayed Ullah Al Masud, received phone calls from The Daily Star for comment.

Moula was appointed in January 2021 when the controversial S Alam Group was dominating the bank's board.

Recently, the Anti-Corruption Commission filed a case against 58 people, including Ahsanul Alam, former chairman of Islami Bank and son of S Alam Group owner Mohammed Saiful Alam, and Mohammed Monirul Moula.

They are accused of embezzling Tk 109,2 crore from Islami Bank through loan fraud.

After the installation of the interim government, S Alam Group's control over Islami Bank ended in August as Bangladesh Bank dissolved the previous board that was heavily dominated by individuals linked to the conglomerate. 

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Islami Bank MD forced out of office

Mohammed Monirul Moula, the managing director of Islami Bank Bangladesh, has not gone to his workplace since December 19 when he was forced to leave by a group of officials.

An additional managing director (AMD) of the bank, speaking on condition of anonymity, confirmed the development to The Daily Star.

He said Moula has been absent due to "internal issues".

Officials of the bank said Moula was working from home. The issue will be raised at a board of directors meeting scheduled for December 29, they added.

Neither Moula nor the bank's new chairman, Md Obayed Ullah Al Masud, received phone calls from The Daily Star for comment.

Moula was appointed in January 2021 when the controversial S Alam Group was dominating the bank's board.

Recently, the Anti-Corruption Commission filed a case against 58 people, including Ahsanul Alam, former chairman of Islami Bank and son of S Alam Group owner Mohammed Saiful Alam, and Mohammed Monirul Moula.

They are accused of embezzling Tk 109,2 crore from Islami Bank through loan fraud.

After the installation of the interim government, S Alam Group's control over Islami Bank ended in August as Bangladesh Bank dissolved the previous board that was heavily dominated by individuals linked to the conglomerate. 

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