Obayed Ullah-Al Masud Chairman of Islami Bank Bangladesh Obayed Ullah-Al Masud has resigned from the board nearly 10 months after his appointment by the central bank, officials have confirmed.
Mr Masud, having 40 years of banking experience, sent his resignation letter to the board of the shariah-based bank on Thursday, executives of the bank and officials at the central bank said.
This correspondent made repeated efforts through phone calls and text messages but could not reach him until the filing of the report at 7:30pm.
His resignation came three days after the Bangladesh Financial Intelligence Unit (BFIU) sought his and his family members' bank account details.
Confirming the development, Bangladesh Bank Spokesperson Arif Hossain Khan said the Islami Bank chairman had officially stepped down from the board on personal grounds.
Though he mentioned personal grounds as the reason for his resignation, the central banker said, it seems he may have made the decision in anticipation because the BFIU had sought his and his family members' bank account details as part of its investigation.
Soon after the changeover in state power following last year's July-August mass uprising, the central bank dissolved the operational board of Islami Bank and appointed five new independent directors to the reconstituted board and made Mr Masud the chairman.
Recently, the board was expanded by including Professor Dr Zubaidur Rahman, a former World Bank official, as another independent director.
Seeking anonymity, several executives at Islami Bank said they have heard that Dr Zubaidur Rahman's name has been placed in the board as Mr Masud's replacement.
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