Bangladesh: Dispute over appointment of new chairman in Islamic Bank turns violent… Clash with police amid protest

Dhaka. The controversy arising out of the appointment of the new chairman of Islami Bank PLC in Dhaka, the capital of Bangladesh, has now taken a violent form. There was a fierce clash with the police during the demonstration of customers and employees in front of the bank headquarters. Police used lathicharge, tear gas, sound grenades and water cannons to disperse the protesters. Dozens of people were injured in this action.

It is being told that the protesters were sitting at the main gate of the bank under the banner of ‘Sachet Grahak Manch’. The police gave first warning, but when the protesters refused to disperse, aggressive action was taken. The entire area was filled with tear gas smoke and many women and elderly people were injured by the strong stream of water. It is being told that the injured have been admitted to nearby hospitals. However, the exact number of injured has not been officially confirmed yet.

What is the whole matter?

A few days ago, the Bangladesh government had appointed former deputy governor of Bangladesh Bank Khurshid Alam as the new chairman of Islami Bank PLC. This decision was strongly opposed by the bank’s employees, officers and customers. The protesters allege that Khurshid Alam was involved in large-scale money laundering and corruption when he was deputy governor during Sheikh Hasina’s regime. He met the country’s leading businessman S. By colluding with Alam, he had helped in embezzlement of thousands of crores of rupees from banks.

Employee unions and customer organizations say Khurshid Alam’s political and economic influence is so great that his appointment will seriously jeopardize the bank’s credibility and Sharia compliance. One protester said that this appointment is a threat not only to Islamic banks but to the entire Islamic banking system. We will not accept this at any cost.

Let us tell you that Islami Bank PLC is the largest private Shariah-based bank of Bangladesh, which serves millions of customers through hundreds of branches across the country. This bank has been believed to be under the influence of opposition party Jamaat-e-Islami for a long time. Political analysts believe that the direct or indirect support of Jamaat-e-Islami may be behind the current demonstration. After the fall of Sheikh Hasina government, efforts for regime change in the Islamic banking sector have intensified. Some people are considering the appointment of Khurshid Alam as an attempt to eliminate the remaining influence of Awami League, while opponents are calling it political vendetta.

What is the situation now?

According to local media, including Dhaka Tribune, the protesters had put up large banners and posters outside the bank premises which read Khurshid Alam resign… Do not make the money launderer the chairman… Save the Islamic bank. It is being told that due to the protests, heavy police force is still deployed in the bank headquarters and surrounding areas. Roads are closed and traffic is completely affected.

On the other hand, the protesters dispersed and stood in the surrounding streets and continued shouting slogans. Work inside the bank has come to a standstill. The situation remains extremely tense and further major demonstrations are expected.