Demand for new IBBL chair’s ouster continues

The protesting clients of Islami Bank Bangladesh Limited (IBBL) have put forward a seven-point demand including the resignation of the bank's newly appointed Chairman Md. Khurshid Alam and the reinstatement of its former Managing Director Omar Faruk Khan.
Their demands were announced at a rally attended by a group of people who claimed to be the bank's customers in front of the Islami Bank's Dilkusha headquarters on Tuesday.
Their other demands include removal of individuals allegedly involved in financial irregularities from the bank's board, the repeal of Section 18(A) of the Bank Resolution Act, recovery of allegedly misappropriated funds through the sale of S. Alam Group's domestic assets and ownership stakes, and the prosecution of those responsible for alleged banking-sector looting.
Meanwhile, talking to reporters, BB spokesperson Arief Hossain Khan said the newly appointed Islami Bank Chairman Md Khurshid Alam was not a loan defaulter but his wife defaulted on loans. "So, there is no barrier to Khurshid Alam performing as chairman due to his wife's loan default status," he said.
Responding to a question, the BB spokesperson said an inquiry found that Khurshid Alam's wife was a joint owner of a company that borrowed Tk 30 million from First Security Islami Bank. The loan subsequently became classified as defaulted.

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