Dhaka: Md Obayed Ullah Al Masud, chairman and independent director of Islami Bank Bangladesh PLC, has resigned from his position citing personal reasons. His resignation was officially confirmed by sources within Islami Bank.
According to Bangladesh Sangbad Sangstha, Obayed Ullah Al Masud submitted his resignation letter to the governor of Bangladesh Bank. His departure follows significant organizational changes at Islami Bank, which were part of the aftermath of the July Uprising that resulted in the removal of Sheikh Hasina from power. This led to the dissolution of the bank's Board of Directors and the appointment of five new independent directors on August 24 of the previous year, with Obayed Ullah Al Masud assuming the role of chairman.
Obayed Ullah Al Masud has an extensive banking career, having served as the managing director of Sonali Bank from 2016 to 2019 and, prior to that, as the managing director of Rupali Bank from 2012 to 2016. He took on the chairmanship at Islami Bank after a period of extended retirement following his tenure at Sonali Bank.
The resignation comes in the wake of a financial inquiry initiated by the Bangladesh Financial Intelligence Unit (BFIU). The agency requested detailed banking information related to Obayed Ullah and his family members, seeking account-related documents and transaction records involving significant sums. This inquiry is part of a broader anti-money laundering investigation, with all scheduled banks instructed to provide comprehensive financial data linked to Obayed Ullah or his associated interests.