Professor M Jubaidur Rahman, chairman of the private sector Islami Bank, has resigned. He submitted his resignation letter to Bangladesh Bank today, Sunday.

In July 2025, M Jubaidur Rahman was appointed as an independent director of the bank by Bangladesh Bank. He then served as chairman after being elected. At that time, the governor was economist Ahsan H Mansur.

According to discussions with multiple officials of Bangladesh Bank, after the BNP government took charge and Mustakur Rahman assumed the post of governor, there were disagreements between Bangladesh Bank officials and senior officials of Islami Bank over various decisions regarding the bank. The chairman of Islami Bank went abroad on a one-and-a-half-month leave on the condition of attending online meetings. Additionally, the bank's managing director, Omar Faruk Khan, was also sent on leave. This leave was approved at a board meeting of Islami Bank on April 12.

Officials of Bangladesh Bank and Islami Bank said that a board meeting was called today at the bank's head office. Some customers and employees of the bank started a protest downstairs at the head office. They protested for Omar Faruk Khan not to resign.

Additionally, they demanded the resignation of Chairman M Jubaidur Rahman. In such a situation, M Jubaidur Rahman sent his resignation letter to Bangladesh Bank today. Meanwhile, a source at the bank confirmed that MD Omar Faruk Khan, who is on leave, has also submitted his resignation letter to the board of directors. However, as the board meeting was canceled, no decision was made on this matter.

Attempts were made to contact M Jubaidur Rahman and Omar Faruk Khan by phone regarding the issue. However, their comments could not be obtained.

In 2017, S Alam Group took control of Islami Bank. After the fall of the Awami League government, they were removed and independent directors were appointed by Bangladesh Bank.