The Bangladesh Labour Party has protested the appointment of former Bangladesh Bank deputy governor Khorshed Alam as chairman of Islami Bank. In a statement issued on Monday, party chairman Dr. Mostafizur Rahman Iran alleged that the government is working deliberately to rehabilitate the S. Alam syndicate, which he described as linked to bank looting and money laundering. He claimed the appointment is part of a broader plan to restore influence to that group.

Dr. Iran further accused the home minister of supporting the S. Alam group and facilitating its business interests, including placing his son in the group’s office. He said the government has ignored public demands expressed during the August 5 uprising against corruption and authoritarianism, instead reviving the same networks accused of financial misconduct.

The Labour Party demanded the immediate cancellation of Khorshed Alam’s appointment, depoliticization of Islami Bank, prosecution of those involved in bank sector corruption, and an impartial investigation into the alleged illegal activities of the S. Alam syndicate.