The grand inaugural ceremony of the United Islami Bank, scheduled for 10 a.m. tomorrow at the InterContinental Dhaka, has been cancelled due to security concerns.
According to sources within the bank and the Ministry of Finance, several depositors and bank officials from Chattogram had reportedly planned a demonstration at the event venue. The mobilisation of this programme quickly gained traction on social media, prompting urgent security discussions between Bangladesh Bank Governor Ahsan H. Mansur and Economic Adviser Salehuddin Ahmed. Following these deliberations, organisers decided to cancel the ceremony as a precautionary measure.
The event was expected to host several high-profile guests. Economic Adviser Salehuddin Ahmed was to attend as the chief guest, with Secretary of the Financial Institutions Division, Md. Khairuzzaman Majumdar, as a special guest, and Bangladesh Bank Governor Ahsan H. Mansur among the distinguished attendees. Chairing the ceremony was the bank’s Chairman, Mohammad Ayub Miah. Senior officials from Bangladesh Bank, the Ministry of Finance, and the broader financial sector were also scheduled to participate.
Sources indicate that dissatisfaction among certain depositors and Chattogram-based banking officials arose over the bank’s recent operations, liquidity management, and administrative practices. Plans to stage a demonstration on the inauguration day led organisers to cancel the ceremony in order to prevent potential unrest.
The United Islami Bank represents the consolidation of five existing banks, with senior management appointments underway. This week is expected to finalise the appointment of the Managing Director, followed by the selection of the Deputy Managing Director, Chief Financial Officer, Company Secretary, and other key positions.
As Bangladesh’s first state-backed Shariah-compliant bank, United Islami Bank aims to conduct banking operations in accordance with Islamic principles, expand financial inclusion, and ensure active government participation in the Islamic banking sector.
The five banks being merged are outlined below:
| Bank Name | Original Owner/Founder | Remarks |
|---|---|---|
| First Security Islami Bank | Saiful Alam | Chattogram-based businessman; head of S. Alam Group |
| Global Islami Bank | Saiful Alam | Controlled by the same entrepreneur |
| Union Bank | Saiful Alam | Controlled by the same entrepreneur |
| EXIM Bank | Nazrul Islam Majumdar | Former Chairman of BCB; bank entrepreneur |
| Social Islami Bank | Saiful Alam | Controlled by the same entrepreneur |
Both entrepreneurs, Saiful Alam and Nazrul Islam Majumdar, have maintained close ties with former Prime Minister Sheikh Hasina. They hold shares, have benefited from loans, and occupy influential positions within Bangladesh’s banking sector.
The inauguration of United Islami Bank was poised to mark a new chapter in the country’s Islamic banking landscape. However, with the event postponed due to security concerns, the full-scale operations of the bank will now await a revised schedule.