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IBBL employees hold violent protest at Dilkusha  head office

Published : Wednesday, 7 August, 2024 at 12:00 AM  Count : 260
Business Correspondent
A group of disgruntled employees of the Islami Bank Bangladesh Limited Plc (IBBL) on Tuesday vandalized Bangabandhu Corner at the bank's Dilkusha head office.

The disgruntled employees led by Collective Bargaining Agent (CBA) of the bank also smashed portraits of Bangabandhu Sheik Mujibur Rahman, the founder of Bangladesh and former prime minister Sheikh Hasina who resigned and fled the country on Monday following a fortnight-long student-led deadly job quota reform protests.

They also barred a section of employees and some senior executives including the chairman of the bank from performing duties on the day for their alleged illegal appointment and promotion after the Chittagong-based S Alam Group captured the ownership of the bank through manipulation in 2017.

The senior executives who were obstructed by the CBA are Ahsanul Alam- Chairman, board of Directors: Dr. Tanvir Ahmed- Vice Chairman; Dr. Saleh Jahur- Independent Director; Akiz Uddin- PS to S Alam (Saiful Alam Masud, founder of the Group) and also DMD, IBBPLC; Qaisar Ali, Additional Managing Director; Miftah Uddin DMD; Md. Sabbir DMD; JQM Habibullah Additional Managing Director; Md. Neyamot Ullah, EVP and Head of Human Resources Administration Division. 

The CBA also demanded restoration of employees who lost jobs after the changeover of the ownership and removal of staff who replaced the sacked employees over the period.

Major turmoil ensued on Tuesday at the bank as the bank's CBA leader Anisur Rahman announced that employees appointed after 2017 would not be allowed to enter the bank's premises.  

Rahman addressed the agitated employees, urging them to remain calm and assuring them that the bank, which he claimed had been "captured," would soon be restored to its former position. He indicated that the appointments in the bank made since 2017 allegedly through irregular means and without proper recruitment examinations would be scrapped.
 
He also promised that employees who were wrongfully terminated during this period would be reinstated, and those who were unfairly denied promotions would receive their benefits retroactively. Insiders at Islami Bank revealed that the ownership change of the bank in 2017 led to forced resignation of many employees, while junior officers were rapidly promoted to senior roles. 

The CBA demanded punishment of for some executives who had allegedly helped the bank's new owners withdrew a substantial fund and siphon off.

Eyewitnesses reported that after the resignation of Prime Minister Sheikh Hasina, some officials began searching for those who had enforced the alleged illegal dismissals and promotions, leading to further violence. The aggrieved employees also targeted those believed to have facilitated the questionable withdrawals of funds. Kamaluddin Jasim, Head of Operations and Senior Executive Vice President at Islami Bank, attempted   to mediate the situation, confirming that the bank's Managing Director had discussed necessary reforms to address the irregular appointments.

The bank's headquarters remains tense, with employees and officials on edge, sources said.

The IBBL the largest Shariah-compliant bank in Bangladesh, has undergone significant ownership changes in recent years. 

Originally founded with Saudi investment, the bank's ownership was captured by  S. Alam Group, a local business conglomerate, now holds the controlling stake. This transition has sparked controversy and unrest among employees, particularly those affected by the recent management changes.



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