Islami Bank Board of Directors accepted the resignation of Managing Director (MD) Omar Faruk Khan during a meeting on Monday night, following a day characterized by high tension and various developments.
The board meeting, conducted virtually, commenced at 9pm and lasted for approximately 40 minutes. All members of the board were present during the session.
An independent director of the bank, speaking to TIMES on condition of anonymity, said the proceedings began with the recitation of the Holy Quran, consistent with regular board meetings.
The director confirmed that the agenda items were discussed and the board unanimously accepted the resignation letter of Omar Faruk Khan.
In the wake of this resignation, the board decided that Additional Managing Director Altaf Hossain will carry out the responsibilities of the Acting Managing Director.
The meeting followed a day of significant disruption. Since Monday morning, protesters supported by Jamaat-e-Islami demonstrated in front of the Islami Bank head office.
The agitators demanded the resignation of the newly appointed Chairman, Khurshid Alam, and the reinstatement of Omar Faruk Khan as the MD.
Due to the protests, Khurshid Alam was unable to enter the bank to attend the board meeting. An initial attempt was made to hold the meeting via an online platform at 2:30pm with the approval of Bangladesh Bank, but that effort was foiled by the pressure of protesters.
On May 24, Islami Bank Chairman M Zubaidur Rahman submitted his resignation letter to Bangladesh Bank, while Managing Director Omar Faruk Khan tendered his resignation to the bank’s board. On the same day, Bangladesh Bank appointed former deputy governor Khurshid Alam as the new chairman of the bank.
