Staff Reporter :
Mohammed Monirul Moula, the managing director of Islami Bank PLC, has been sent on forced leave for three months.
The board of directors of the bank took the decision during its 359th meeting on Sunday amid reports of his involvement in various irregularities.
The decision will come into effect on Monday.
Besides, the bank will send a letter to Bangladesh Bank, describing the allegations of Mohammed Monirul Moula’s involvement in the irregularities.
The board of directors appointed Omar Faruk Khan, additional managing director of the bank, as acting managing director.
Moula was appointed as the managing director of Islami Bank in January 2021, when the controversial S Alam Group was dominating the bank’s board. He began his career with the Shariah-based bank in March 1986.
Moula came under pressure after the S Alam Group lost control of Islami Bank following the ouster of the previous Awami League government in August 2024.
Bangladesh Bank subsequently dissolved the former board, which had been heavily dominated by individuals linked to the Chattogram-based S Alam Group.
By the end of last year, the Anti-Corruption Commission had filed a case against 58 people, including Ahsanul Alam, former chairman of Islami Bank and son of S Alam Group owner Mohammed Saiful Alam, and Mohammed Monirul Moula, on allegations of embezzling Tk 109.2 crore from Islami Bank through loan fraud.
