48 officials appointed to Islami Bank under Hasina's direct order

Recruitments at Islami Bank Bangladesh PLC occurred under the direct order of former prime minister Sheikh Hasina, with 48 officials appointed through such directives, according to sources within the bank.

Once regarded as one of the strongest private banks in Bangladesh, Islami Bank has slipped into the ranks of the weakest over just seven years -- since its takeover by military intelligence-backed interests on January 5, 2017.

The Financial Express has obtained a document listing the 48 individuals appointed under the former prime minister's directive in 2017.

Bank sources said the decline accelerated after Chattogram-based S Alam Group assumed control, allegedly consolidating dominance through irregular recruitment and political influence. Several appointments were reportedly made on Sheikh Hasina's personal recommendation, in two separate phases.

According to the sources, in late 2016 -- just before the bank's control changed -- the Prime Minister's Office (PMO) sent a letter recommending the recruitment of 10 individuals without advertisement, written tests, or viva voce.

At the time, then-managing director of the bank, Abdul Mannan, initially refused to approve the appointments, as they did not follow proper procedures. However, after presenting the matter to the board, the recommendations were approved amid heated discussion.

The 10 individuals joined the bank between January 1 and 5, 2017, days before S Alam Group formally took over.

Soon after the takeover, the PMO issued another recommendation to recruit 38 more individuals, which the new board approved. Of these, 37 joined on April 20, 2017 and one on November 19, 2017.

When contacted, former Islami Bank managing director and current First Security Islami Bank Chairman Abdul Mannan confirmed the matter.

Bank sources say 18 of these officials have been terminated, while action against several others is reportedly underway.

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