Khurshid Alam Appointed New Chairman of Islami Bank
Khurshid Alam. Collected Photo
Bangladesh Bank has appointed former Deputy Governor Md. Khurshid Alam as the new chairman of Islami Bank Bangladesh Limited, following the resignation of Chairman Zubaidur Rahman amid pressure from central bank officials and protests linked to the July movement.
The appointment was made immediately after Zubaidur Rahman stepped down on Sunday. The central bank informed Islami Bank of the decision through an official letter.
Khurshid Alam was appointed Deputy Governor of Bangladesh Bank in February 2024 on a three-year contractual basis. However, after the change in government in August 2024, he, along with three other senior central bank officials, was reportedly forced to resign.
Sources said Zubaidur Rahman resigned from the post of Islami Bank chairman following advice from Bangladesh Bank. He had been appointed chairman on July 23 last year after the resignation of former chairman Obaidullah Al Masud.
Meanwhile, Islami Bank’s scheduled board meeting on Sunday did not take place amid protests by the Islami Bank Conscious Customers Forum. The meeting was supposed to be held at the bank’s head office in Dilkusha, Dhaka. During the unrest, Managing Director Omar Faruk Khan, who was on compulsory leave, resigned before the board meeting.
He had been sent on a 49-day compulsory leave in April on Bangladesh Bank’s advice, with his leave scheduled to end on May 31. Although Omar Faruk Khan arrived at the head office on Sunday, protesters prevented him from entering the premises. He later submitted his resignation to the chairman of the bank.
