Dhaka, July 17 (V7N) – Obaid Ullah Al Masud, Chairman of Islami Bank Bangladesh Limited, has resigned from his position, submitting his resignation to the bank’s Board of Directors on Wednesday (July 17).

Sources indicate that the resignation came after a call from Dr. Md. Kabir Ahmed, Deputy Governor of Bangladesh Bank, on July 3, during which Masud was urged to step down.

Following the fall of the Awami League government on August 5 last year, the central bank reconstituted Islami Bank’s board on August 22, appointing Masud—who previously served as Managing Director of state-owned Sonali Bank and Rupali Bank—as chairman of the five-member board.

Since taking charge, Masud has faced multiple complaints. On July 15, the Bangladesh Financial Intelligence Unit (BFIU) summoned bank account details of Masud and his family members. The next day, BFIU conducted a special operation at Islami Bank headquarters.

The operation uncovered information regarding benefits Masud allegedly received from the bank since last August. Investigators also sought details about expenses related to Masud’s recent one-month visit to the United States, which he reportedly undertook without formally notifying the Board of Directors or Bangladesh Bank, nor submitting any official memo.

The BFIU’s ongoing probe is examining whether any bank funds were used during this trip.

END/RH/AJ