Islami Bank chairman announces plan to sell all his shares

Islami Bank Bangladesh PLC Chairman and Independent Director M Zubaidur Rahman has announced his plan to sell all shares registered under his name through the Dhaka Stock Exchange (DSE).

According to a disclosure published on the DSE website, Zubaidur expressed his intention to sell 149622 shares within the next 30 working days at the prevailing market price.

Based on Wednesday’s trading price of Tk 42.80 per share, the current market value of his holdings stands at around Tk 6.29 million.

Zubaidur was appointed Islami Bank chairman on July 23 this year, replacing Obayed Ullah Al Masud, following major reshuffles in the bank’s board after the fall of the Awami League government last year.

DSE records show Islami Bank had been paying dividends of 10 per cent or more to investors since 2015, including a 10 per cent dividend in 2023. However, due to worsening financial conditions, the bank declared no dividend for 2024.

According to the Bangladesh Financial Intelligence Unit, the bank—long controlled by S Alam Group—was involved in alleged large-scale fund siphoning in recent years. The group alone has outstanding loans of Tk 731.13 billion from Islami Bank, representing nearly half of its total loan portfolio.

Although the bank’s liquidity stress has eased somewhat, investors in the capital market have seen minimal returns.

In the first six months of 2025, the bank’s earnings per share (EPS) remained below Tk1.