Islami Bank Bangladesh held a virtual board meeting late Monday night under what reports described as pressure from Bangladesh Bank. The meeting, chaired by newly appointed chairman Khurshid Alam, lasted about 40 minutes and included five board members. During the session, the resignation of Managing Director Omar Faruk Khan was accepted, and Altaf Hossain was assigned as acting MD until a new appointment is made.

According to Bangladesh Bank spokesperson Arif Hossain Khan, the meeting was held with the central bank’s permission, and no direct pressure was exerted. He clarified that online meetings can be conducted outside regular banking hours. The meeting was originally planned to be held in person but was shifted online due to protests by customers outside the bank’s head office in Dhaka.

Earlier in May, former chairman M. Zubaidur Rahman resigned, and Khurshid Alam, a former deputy governor of Bangladesh Bank, was appointed as the new chairman. His appointment has faced opposition from a political faction linked to the bank, leading to ongoing demonstrations, including Monday’s protest in Dhaka.