Salahuddin defends BB actions over Islami Bank issue

Home Minister Salahuddin Ahmed on Tuesday said Islami Bank Bangladesh PLC is not synonymous with Islam, nor is Jamaat-e-Islami, urging political parties to refrain from invoking religious sentiment in discussions over the bank’s management and ownership dispute.

Speaking in Parliament during the budget session while responding to an opposition notice under Rule 68 raised by Jamaat-e-Islami Ameer and Opposition Leader Shafiqur Rahman, the minister said regulatory actions taken by Bangladesh Bank were within legal authority.

“The Islami Bank is not Islam, and Jamaat is not Islam. So, please do not bring religion into everything,” he told the House.

He further remarked that “a bank once taken over through influence will eventually be freed,” adding that the pain being felt over loss of control was understandable.

The minister alleged that certain individuals were staging protests under the guise of depositors while concealing political identities.

Referring to claims of share takeover, he said shares of Islami Bank had been traded legally in the stock market, citing examples of block market transactions at higher prices.

He also said that ownership details of the bank should be made public and called upon the Finance Minister and the central bank governor to disclose shareholding structures.

Salahuddin Ahmed said the Bangladesh Bank, as the regulatory authority, was acting under provisions of the Bank Company Act to safeguard depositors’ interests and financial stability. He added that the central bank has the authority to remove boards, including chairmen, if necessary.

He suggested that if opposition parties had objections, they should first seek changes to the law rather than questioning regulatory actions.

The minister also raised concerns over the Islami Bank’s Rural Development Scheme (RDS), alleging irregular loan disbursements and political influence in its operations.

He claimed that Tk 11,000 crore had been disbursed under the programme before August 5, 2024, and a similar amount was distributed ahead of elections, questioning its traceability.

He further alleged irregularities in recruitment and promotions within the bank, stating that around 9,000 employees had been dismissed and 6,000 newly recruited, while 13,000 promotions were granted in violation of standard procedures.

Salahuddin Ahmed said investigations into such irregularities would continue and that accountability measures would be taken where necessary.

TZ