Al-Arafah Islami Bank is now in the hands of KDS

Special Correspondent : Bangladesh Bank has returned the management of Al-Arafah Islami Bank to the hands of old entrepreneurs at the behest of the government. As a result, people accused of irregularities and immoral activities have also found a place on the new board. Two directors were forced to be removed from the board just two days after being appointed. The bank’s main control has passed to the Chittagong-based KDS Group through a new board restructuring. Earlier, during the Awami League government, KDS Group was in charge of Al-Arafah Islami Bank as well as National Bank. Both banks were linked to the controversial S Alam Group. I have returned to the bank after a long time. Now my main responsibility is to run the bank professionally so that no new irregularities occur. However, there is no opportunity to bring back those who have lost their jobs due to specific allegations. If new irregularities occur, the bank will be at great risk. As the chairman, my main job is to protect the interests of depositors.

Badiur Rahman, newly elected chairman of Al-Arafah Islami Bank . Meanwhile, some of the directors appointed immediately after the board reorganization have taken the initiative to bring back the officers who were dismissed and accused of various irregularities to the bank. Even some of these controversial officers were seen in the first meeting of the newly formed board. At the same time, it has been alleged that a deputy managing director (DMD) of the bank was forced to resign after the new board took charge. These incidents have spread new panic and unrest among the officers and employees of the bank. When asked, the bank’s newly elected chairman Badiur Rahman, “I have returned to the bank after a long time. Now my main responsibility is to run the bank professionally so that no new irregularities occur. However, there is no opportunity to bring back those who lost their jobs due to specific allegations. If new irregularities occur, the bank will be at great risk. As chairman, my main job is to protect the interests of depositors.”

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