Immediate-past vice chairman of Islami Bank Bangladesh Ltd Syed Ahsanul Alam resigned as independent director of the bank on Thursday, two days after he was relieved of his vice chairman post.

At the same time, another independent director Abdul Mabud, also immediate-past chairman of the bank’s risk management committee has resigned.

Both of them were relieved of their posts on Tuesday.

When contacted, the Islami Bank chairman, Arastoo Khan, told the media that they both resigned on personal grounds.

“Their resignation letters will be sent to the Bangladesh Bank for approval and then it will come into ffect.”

A group of bank officials raised the demand for the resignation of Ahsanul Alam and Abdul Mabud at the Annual General Meeting of the bank on last Tuesday.

All other 18 directors of the bank, except Ahsanul Alam, were present in the AGM held at the Kurmitola Golf Club auditorium.

Ahsanul and Abdul Mabud were relieved of their jobs at a meeting of the bank’s Board of Directors on the same day.

On that day, Arastoo Khan had said they, Ahsanul and Abdul Mabud, would remain in their posts of directors.

A conflict among the directors surfaced following a Facebook post of then vice chairman Syed Ahsanul Alam.

In his Facebook post on 11 May, Ahsanul said, “A conspiracy has begun for expelling directors and recruiting new ones for the bank. So, it has been almost impossible to discharge the duties of vice chairman and director. My stepping aside is only a matter of time.”

After a meeting of the Board of Directors on 13 May, Syed Ahsanul told some newsmen that the meeting decided to give zakat money of Tk 4.5 billion to the prime minister’s zakat fund instead of the bank’s own fund.

Besides, the meeting decided to distribute some Tk 130 million for the purpose of iftar this year through the social affairs ministry, a job that the bank has been doing on its own for long.

Ahsanul further said the meeting also decided to send the list of beneficiaries of the bank’s social responsibility fund to the home ministry.

Ahsanul disclosers created discussion and criticism in different quarters, particularly in the banking sector. Especially, the bank’s decision to send zakat fund of Tk 4.5 billion to the prime minister’s office has been criticised widely.

Against this backdrop, the prime minister, Sheikh Hasina, called in the bank chairman on 16 May and the chairman held a media briefing on the next day.

Bank chairman Arastoo told the briefing that vice chairman Syed Ahsanul Alam breached bank’s secrecy and thus breached his oath as well.

The bank chairman accused the vice chairman of creating misgivings about the bank.

“I will not ask him to resign, but there will be no problem if he [Ahsanul Alam] resigns willingly.”

Later on 20 May, seven directors of the bank including Syed Ahsanul Alam issued an ‘emergency release’ claiming that the Board of Directors in its meeting on 13 May decided to relieved “anti-state directors” of their posts.

Six other directors who signed the release are, shareholder director Abdul Matin, Borhan Uddin Ahmed, Kazi Shahidul Alam, Abdul Mabud, Saiful Islam and Helal Ahmed Chowdhury.