Officials of the ICB Islamic Bank (ICBIB) have effectively laid seize in front of the bank's head quarters at TK Bhavan, Kewran Bazar on Wednesday blocking the managing director (MD) Mohammad Shafique Bin Abdullah inside the office.
The seize has been initiated by managers from the bank's 33 branches who are demanding his expulsion. Protesting bank managers raised their demands for expulsion despite Bangladesh Bank's rejection of Shafique's reappointment in his position. "We demand his removal," they said.
The situation escalated following revelations from a recent investigation by the central bank, uncovering evidence of financial irregularities involving Shafique. The investigative team found him involved in activities detrimental to banking discipline and depositors' interests.
Consequently, Bangladesh Bank has formally rejected Shafique's application for reappointment as MD and has asked the board to immediate appoint a new managing director. A letter has been sent by the regulatory body to the bank's chairman last week. In defiance of Bangladesh Bank's directive, Shafique is still reportedly operating in the bank. The bank's chairman has submitted another request to the central bank to reconsider its decision regarding Shafique's status. Speaking to the media, Shafique stated, "An application has been submitted from the bank for reconsideration of Bangladesh Bank's decision. Until a new ruling is issued, I have been authorized to continue my duties as MD of the bank," he said.
