Conscious Customers Forum warns of tough movement if board not formed

After the meeting, forum leaders said the bank administrator agreed with the various issues they raised and assured them of holding talks with Bangladesh Bank to resolve them.

Forum convener Professor Nur Nabi Manik said a full-fledged board of directors should be formed quickly comprising the founders of Islami Bank. In his view, a large bank like Islami Bank cannot be run by just one administrator.

He also alleged that attempts are being made to weaken the ongoing case related to S Alam Group's shares by changing lawyers. He warned of launching a tough movement against the governor of Bangladesh Bank if their seven-point demands, including formation of a board of directors with honest, competent and experienced people, are not implemented without delay.

Among the forum's seven demands are: formation of an independent and full-fledged board of directors through discussions; returning the bank's actual ownership to its original owners; formation of a special tribunal to try those involved in looting the bank; preventing propaganda and ensuring stability in the banking sector; recovering laundered money and plundered assets; declaring bank looters ineligible for life; and withdrawing misleading statements made in parliament about Islami Bank.

The forum says implementing these demands will ensure good governance of Islami Bank and the safety of customers' deposits.