Amid unrest following a political shift in Bangladesh, Islami Bank Bangladesh, the nation’s largest Shariah-based bank, terminated contracts with eight top officials. The dismissed personnel include an additional managing director and several deputy managing directors, who were linked to the Chattogram-based S Alam Group, a major stakeholder in the bank since 2017. The bank’s decision comes after protests erupted among staff, who accused the management of depriving them of benefits and promotions and of favoring S Alam Group in controversial loan approvals. The unrest escalated to clashes, leading to the forced resignation of key officials. This turmoil reflects deeper concerns over governance and financial management within the bank, potentially impacting investor confidence and the broader banking sector.
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