TBT DESK: Tensions escalated in the capital on Monday as thousands of customers and shareholders gathered outside the head office of Islami Bank Bangladesh PLC in Motijheel, demanding the cancellation of the newly appointed chairman’s appointment.

The protesters staged a human chain and demonstration under the banner of “Islami Bank Victim Customers Coordination Council,” calling for the withdrawal of Khurshid Alam’s appointment as chairman and the reinstatement of former Managing Director Omar Faruk Khan.

Witnesses said clashes broke out between demonstrators and police during the morning programme. Law enforcement officers used baton charges, tear gas, water cannons and sound grenades to bring the situation under control, leaving several protesters injured.

Despite the initial dispersal, demonstrators regrouped and continued their sit-in in front of the bank’s headquarters.

Protest leaders alleged that the appointment of the new chairman, made following the removal of the previous board leadership on 24 May, reflects an attempt to restore influence linked to S Alam Group within the bank. They claimed that the central bank’s decision has been contested by customers and shareholders from the outset.

They further alleged that the bank is currently facing liquidity pressure, with some customers experiencing difficulties withdrawing funds through cheques and limited cash availability at ATM booths. The protesters have vowed to continue their movement until the appointment is revoked, reiterating their demand for what they describe as a governance structure free from external influence. The situation highlights ongoing tensions surrounding the governance and management structure of one of the country’s largest private sector banks, amid broader concerns about financial stability and depositor confidence.