'Islami Bank's election expenditure of Tk 11,000 crore for Jamaat-e-Islami'

Home Minister Salahuddin Ahmed urged against the invocation of religious sentiments in relation to Islami Bank Bangladesh, asserting that Islami Bank does not equate to Islam, nor does Mirza Fakhrul Islam or Jamaat-e-Islami represent Islam.

This statement was made by the Home Minister during a discussion in the National Assembly on Tuesday, addressing a notice regarding the need to ‘return the shares of Islami Bank to their rightful owners and to cease unwarranted interference in the bank's management.’

The notice was presented by the Leader of the Opposition and Jamaat-e-Islami Ameer, Shafiqur Rahman, in accordance with Rule 68 of the National Assembly's Rules of Procedure.

In response to Shafiqur Rahman’s notice, Home Minister Salahuddin Ahmed remarked, ‘It has been claimed that Jamaat-e-Islami is not the owner of the bank and again warning has been issued not to influence Islam by interfering into bank activities. It is inappropriate to invoke Islam in every situation.’ At this juncture, alluding to the diminishing influence of Jamaat-e-Islami over Islami Bank, he stated, "Once the bank is overtaken by the call to prayer, its control will be relinquished. We comprehend this distress, Honorable Speaker."

He then enumerated the irregularities that have transpired within Islami Bank since August 5, 2024. The Home Minister indicated that a loan of Tk700 crore was extended to Nabil Group against an LC from Islami Bank, which was subsequently not repaid after the goods were sold. He remarked, "Some mischievous individuals claim that the funds were diverted to the election campaign of a certain party." In this context, he added that RDS Islami Bank has a flagship initiative, through which Tk22,000 crore has been allocated. Tk11,000 crore was disbursed previously, and following August 5, an additional Tk11,000 crore was provided to meet the electoral threshold."

Stating that the Nabil Group's bank liability (debt) is Tk16,000 crore, the Home Minister said that an investigation will be conducted to find out why it is not being investigated. Those who have even bought flight tickets from Dhaka to Cox's Bazar from the bank in the name of Social Corporate Responsibility (CSR) will also be investigated.

At this time, the Minister said that a loan of Tk40 crore was given to a group before the elections without the approval of the head office of Islami Bank. The Home Minister also questioned the transparency of the layoffs and new appointments at Islami Bank.

Salahuddin Ahmed said that the number of those who were dismissed after the bank was taken over is 9,000. They were dismissed illegally without showing any laws and regulations. Six thousand new appointments were made. All of them are of one political ideology. 13,000 have been promoted, and those who were not supposed to be promoted from the category they were promoted from have been given three promotions each.

He said, "These irregularities have happened, Honorable Speaker. It seems that they have been done in the name of Islam. So if these are investigated, maybe some of our names may come up there."

In response to the opposition's allegations that the shares of Islami Bank have been looted, the Home Minister said, "Ibn Sina had 2 percent shares, they sold the shares at three times the price in the 'block market'. According to the current shareholding status, it seems that 81 percent belongs to one group. He said, appropriate measures will be taken to return this ownership to the legitimate and genuine shareholders."