Employees dismissed from six Shariah-based banks staged a human chain in Dhaka’s Motijheel area on Sunday, demanding reinstatement in their jobs and the settlement of outstanding dues.
The demonstration began at around 9:00 am in front of the head office of Islami Bank Bangladesh PLC in Dilkusha, a key commercial district of the capital. Additional police personnel were deployed in the Motijheel area to maintain order during the programme.
Allegations by dismissed staff
The protesting officials and employees alleged that they were removed from their positions without specific justification following 5 August 2024. According to their claim, nearly 10,000 staff members across the six banks have been affected, with a significant number reportedly originating from the Chattogram region.
They further stated that many affected employees travelled overnight from Chattogram to Dhaka to join the programme. The demonstrators demanded reinstatement, restoration of full employment benefits, and accountability from senior management.
They also called for the resignation of the boards of directors and senior executives of Islami Bank Bangladesh PLC. In addition, the protesters demanded legal action against former Bangladesh Bank governor Ahsan H. Mansur and the removal of the current chairman and managing director of Islami Bank Bangladesh PLC.
One protester stated that employees were dismissed without being given an opportunity to defend themselves, and that they were seeking only the restoration of their livelihoods.
Participating banks
The human chain involved dismissed personnel from six Islamic banking institutions:
- Islami Bank Bangladesh PLC
- First Security Islami Bank PLC
- Union Bank PLC
- Al-Arafah Islami Bank PLC
- Global Islami Bank PLC
- Social Islami Bank PLC
Claims from bank officials
Senior officials from three of the affected banks stated that dismissals were carried out only in cases where irregularities were identified, including alleged forged certificates or appointments made without formal examination processes. They maintained that reinstatement of such employees was not possible under existing procedures.
Background of ownership and regulatory action
It is stated that these six banks were previously under the influence of the S Alam Group. Following the political change of government in August 2024, the group reportedly lost control over the institutions.
Subsequently, the Bangladesh Bank, the country’s central banking authority, identified evidence of large-scale financial irregularities, including the alleged withdrawal of approximately 200,000 crore taka through various channels.
In response to governance concerns, four of the banks—First Security Islami Bank PLC, Union Bank PLC, Global Islami Bank PLC, and Social Islami Bank PLC—are currently in the process of being merged. Meanwhile, Al-Arafah Islami Bank PLC and Islami Bank Bangladesh PLC are being managed by independent directors appointed by the Bangladesh Bank.
Summary of institutional status
| Bank | Reported regulatory status | Current administrative arrangement |
|---|---|---|
| Islami Bank Bangladesh PLC | Under regulatory oversight | Managed by Bangladesh Bank-appointed independent directors |
| First Security Islami Bank PLC | Under restructuring | Subject to merger process |
| Union Bank PLC | Under restructuring | Subject to merger process |
| Al-Arafah Islami Bank PLC | Under regulatory oversight | Managed by independent directors |
| Global Islami Bank PLC | Under restructuring | Subject to merger process |
| Social Islami Bank PLC | Under restructuring | Subject to merger process |
The demonstration concluded with protesters reiterating three key demands: immediate reinstatement of dismissed employees, payment of outstanding salaries and allowances, and legal safeguards to prevent future instances of alleged employment discrimination.