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After hours of disruptive demonstrations outside, a much-talked-about board meeting of Islami Bank Bangladesh PLC stalled at daytime and completed virtually on Monday night with its new Chairman Md. Khurshid Alam presiding, sources said.
The meeting was supposed to take place on Monday noon but was postponed amid daylong protests by a group of people who claimed to be customers of the bank that passes through management shakeups.
"Yes, the board meeting was successfully completed virtually tonight with presence of the new chairman," an Islami Bank executive said, on condition of not being quoted by name.
However, the topic of discussions was not ascertained immediately.
The bank executive said the five-member board in its latest decision accepted the resignation of the immediate-past managing director, Omar Faruk, who was on a forced leave.
Meanwhile, the banking regulator has dismissed any possibility of removing the newly appointed chairman from the bank as its "decision will not be influenced by any protest".
Tensions had built up since morning as a group of people, claiming themselves as customers of the country's leading shariah-based commercial bank, gathered in front of the Dilkusha headquarters of the bank chanting slogans demanding cancellation of the appointment.
Sensing possible trouble in the area, the government stepped up security there by deploying additional law enforcers to maintain order. As the protesters, fronting the banner of Islami Bank Customers Forum, defied police call to clear the road for traffic movements to prevent the holding of the scheduled board meeting under the leadership of the new chairman, police personnel intervened using water cannon and sound grenades.
"The entire area got into a chaos," says a spot account of the melees.
Several protesters were reportedly injured in the turmoil and majority of them were given first aid in nearby hospitals. Considering the protest, Bangladesh Bank (BB), the country's central bank, gave the approval to the bank management to hold the board meeting virtually.
As the news of virtual board meeting spread, some of the protesters stormed into the bank's headquarters and stepped into the room where Acting Managing Director Altaf Hossain, along with other senior bankers, was holding a meeting with members of law-enforcement agencies at about 4:45pm.
Responding to a question from reporters, a police officer from the Motijheel Zone said, "We have been on duty here throughout the day. As part of our responsibilities, some police officials and I visited the office of the Acting Managing Director."
Protesters alleged that the appointment was "politically influenced" and warned that it could lead to renewed financial irregularities within the bank.
Following the clash, additional police personnel were deployed around the Islami Bank headquarters and security was tightened in the area.
On the last working day before the just-celebrated Eid-ul-Azha, the BB appointed Mr. Khurshid Alam as chairman of the bank following resignation of its immediate-past chairman M Zubaydur Rahman.
BB spokesperson Arief Hossain Khan says the central bank "makes decisions not on the basis of emotions, pressure, or any form of protests, but in accordance with the interests of the institution and legal provisions".
He says the position of the BB Governor is very clear that "no political interference in the central bank or any commercial bank will be tolerated".
"If Bangladesh Bank takes a decision today due to a movement, then what will happen if another party later protests against that decision? Bangladesh Bank will continue to act according to its own policies and procedures. There is no possibility of changing the central bank's decision through the movement," he adds.
However, the protesters left the place at about 5:45pm after announcing fresh protest programme to stage human chain in front of the bank's head office from 10:00am to 5:00pm today (Tuesday). But the protest will also take place in other Islami Bank branches from 10:00pm to 1:00pm.
UNB adds: Bangladesh Jamaat-e-Islami on Monday strongly condemned and protested the "police action" against protesters demonstrating in front of the head office of Islami Bank Bangladesh PLC, claiming that several customers were injured during the incident.
In a statement, Jamaat Secretary General Mia Golam Porwar alleged that police used batons, tear gas, water cannons and gunfire against customers who had gathered under the banner of the "Islami Bank Customers' Forum" for a peaceful programme.
In a separate statement, the Jatiyatabadi Bankers' Association, Bangladesh (JBAB) has condemned an alleged assault on Md Omar Faruk, joint convener of the association's central committee, in the capital's Motijheel and called for the immediate arrest of those responsible.
JBAB convener Md Iqbal Hossain and member secretary Md Mostafizur Rahman Mostak alleged that Md Omar Faruk, a Principal Officer at Islami Bank Bangladesh PLC and Joint Convener of the association's central committee, was physically harassed and threatened by a group of individuals in the capital.
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