S Alam Group-appointed Islami Bank MD Monirul Moula ‘forced to vacate’ office

Mohammed Monirul Moula, Managing Director (MD) of Islami Bank Bangladesh PLC, was reportedly forced to vacate his office on December 19 under contentious circumstances.

Moula, who was appointed in January 2021 during the tenure of S Alam Group’s dominance over the bank’s board, faced resistance from within the organisation. A group of officials allegedly blocked his entry to the office and demanded he leave, UNB reports.

Since the incident, Moula has been absent from his duties, and an additional managing director has assumed interim responsibility. Islami Bank is working with Bangladesh Bank to finalise the appointment of a new MD, according to a high-ranking official at the bank.

Despite being removed from his office, sources indicate that Moula has not yet submitted his resignation.