Al-Arafah Islami Bank pledges to continue reforms despite protests
As part of its ongoing reforms in line with guidance from regulatory authorities, Al-Arafah Islami Bank PLC has taken measures to address irregularities in recruitment identified through recent audits by regulators and audit firms.
Following the auditor's recommendations, the bank's management reviewed recruitment processes. They arranged an evaluation test for 1,414 officers through the Institute of Business Administration (IBA) of the University of Dhaka to ensure neutrality. A total of 864 officers who passed were retained. Meanwhile, 547 who failed to achieve the minimum qualifying marks were released from service following due process. Three officers resigned prior to the examination.
According to the bank, this initiative aims to strengthen the institution's human resources and establish a solid foundation. However, on 28 July, dismissed officers began a sit-in protest in front of the head office at Al-Arafah Tower, Dainik Bangla intersection, Dhaka. They blocked the entrance and disrupted operations at both the head office and the corporate branch.
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The bank stated that the protesters used loudspeakers, creating noise that caused inconvenience to customers, residents, and pedestrians. Attempts by management and law enforcement to resolve the matter were unsuccessful.
On August 8, protesters again blocked the entrance to the head office. This prompted officials to temporarily relocate operations to Surma Tower, a nearby location. The bank reported that later that afternoon, a group of dismissed officers attacked executives. They detained and harassed three deputy managing directors and the head of human resources. The head of human resources and others were injured during the incident. At least 15 people were reportedly hurt, with several admitted to the hospital. A case has been filed with the Paltan Police Station.
In a statement, the bank stated that it would not retreat from its reform program, legal processes, or compliance with central bank directives. It added that these measures were essential for stability, discipline, service quality, and reputation.
The bank assured customers that deposits were safe and reaffirmed its commitment to transparency and improved services. It warned protesting former officers to stop blockades, threats, and violence. Otherwise, they would face legal action.
"For three decades, Al-Arafah Islami Bank PLC has played an important role in the country's economic progress. This has been sustained by the trust and support of the people. No intimidation can halt our advancement," the statement said.
