Islami Bank will no longer be loyal to any group or family: BB Governor
The meeting was held this afternoon (16 March) with the bank’s chairman, four board members and ten top executives, a source present there told The Business Standard
Bangladesh Bank Governor Mostaqur Rahman has said the Islami Bank Bangladesh PLC will no longer operate in the interests of any political party, group or family.
"Now, there will be no opportunity for this bank to work for any group, party or family. In this regard, the role of officials will be crucial," he said during a meeting with the board members and top executives of Islami Bank.
The meeting was held this afternoon (16 March) with the bank's chairman, four board members and ten top executives, a source present there told The Business Standard.
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Addressing the bank's board, the governor said during the period of the Awami League government, the Islami Bank had been loyal to a particular party and group.
Recently, thousands of dismissed officials of Islami Bank staged a protest programme in front of the Bangladesh Bank demanding their reinstatement.
Most of them were reportedly recruited from a specific area in Chattogram. When asked whether the governor raised the issue during the meeting, the source said the matter was not discussed.
Meanwhile, a report sent by Bangladesh Bank to the Anti-Corruption Commission said the S Alam Group had taken loans amounting to Tk1.9 lakh crore from four of the eight banks under its direct or indirect control through share ownership.
According to sources from the central bank's financial intelligence unit (BFIU), Tk93,364 crore was laundered through fraudulent loans taken in the names of shell and fake companies from those four banks. Of the amount, Tk1,05,483 crore was taken from Islami Bank alone.
The report also said S Alam Group chairman Saiful Alam Masud and his related entities used their influence to take loans from the four banks under their control, either in his own name or through intermediaries.
Progress of the Islami Bank over the past year
According to sources at Islami Bank, the bank's total deposits stood at Tk1.83 lakh crore by the end of last year, increasing by more than Tk22,000 crore in 2025 alone.
Deposits under agent banking now stand at Tk22,000 crore, up by Tk5,000 crore from the previous year.
Over the past year, Islami Bank handled remittance inflows worth Tk76,000 crore. In 2025, the bank conducted import and export trade amounting to nearly Tk60,000 crore and Tk32,000 crore, respectively.
The bank currently has around 30 million customers, an increase of five million over the past year.
Default loans decline
The bank's defaulted loans have also declined in recent months.
In September last year, Islami Bank's non-performing loans rose to Tk1.06 lakh crore, accounting for 58% of its total loans. By December, however, the bank managed to reduce the amount by Tk14,159 crore.
Currently, the bank's default loans stand at Tk92,115 crore, or about 47% of its total loans.
