Neither Islami Bank, Mirza Fakhrul nor Jamaat should be equated with Islam: Salahuddin tells parliament

Home Minister Salahuddin Ahmed has said that neither Islami Bank, Local Government, Rural Development and Co-operatives Minister Mirza Fakhrul Islam Alamgir, nor Bangladesh Jamaat-e-Islami should be equated with Islam, warning against the use of religious identity in political debates.

"Islami Bank is not Islam. Our Mirza Fakhrul Islam is not Islam either, and Jamaat-e-Islami is not Islam. Therefore, it is not right to invoke Islam in every issue," Salahuddin told parliament while taking part in a discussion under Rule 68 of the Rules of Procedure yesterday (9 June).

His remarks came in response to a notice submitted earlier by Opposition Leader Shafiqur Rahman, who called for the return of Islami Bank's shares to their rightful owners and an end to what he described as "unwarranted, illegal and unexpected interference" in the bank's management.

The home minister said Jamaat had not claimed ownership of Islami Bank but had instead called for the institution to be restored to what it considers a path of fairness and proper governance.

"Bangladesh Bank will take the necessary measures to ensure that the bank operates in accordance with laws and regulations," he added.

Assuring depositors and legitimate shareholders, Salahuddin said there would be no problems for the bank's lawful stakeholders and that ownership issues would be resolved in accordance with legal claims.

However, he alleged that attempts were being made to create unrest within the bank through organised movements operating behind the scenes under the guise of customer activism.

"Whether from behind the curtain or openly, such movements will not be allowed to advance very far," he warned.

Addressing concerns over the bank's leadership, the minister said Bangladesh Bank has the legal authority under the Bank Company Act to remove a bank's chairman, board members and directors if necessary.

"If anyone wants to question that authority, they must first amend the law," he said.

Salahuddin also called for investigations into alleged money laundering involving several business groups, including the S Alam Group, and said all such allegations should be examined under the supervision of Bangladesh Bank.

He added that any decision regarding the appointment of Islami Bank's current chairman must follow due legal process, noting that no allegations against him had yet been proven and that the principle of the presumption of innocence must be respected.

The minister further alleged that companies, including Nabil Group, had failed to repay borrowed funds and should be investigated. He also claimed that around 9,000 employees had been dismissed without due process.

Salahuddin questioned the management of Islami Bank's Rural Development Scheme (RDS), describing it as one of the bank's flagship programmes, which provides small loans ranging from Tk5,000 to Tk20,000, primarily to women borrowers.

He alleged that before the election, many women received Tk10,000 each under the programme and were promised additional funds later.

According to the minister, around Tk11,000 crore had previously been disbursed under the RDS programme, with a further Tk11,000 crore distributed after 5 August 2024 and before the election. He claimed there was no clear accounting for the latter amount.

Islami Bank's 2025 annual report presents a different picture of the RDS.

According to the report, the total outstanding loan balance under the RDS programme stood at Tk6,789 crore at the end of 2025, up from Tk6,712 crore in 2024. This represents an increase of only Tk77 crore, or 1.14%, over the year.

Of the total loan portfolio, only Tk23.28 crore was classified as defaulted loans.

The report also shows that the loan recovery rate under the programme was 97.5% at the end of last year, compared with 98.49% at the end of 2024.

Since its inception through December 2025, the RDS programme has provided loans to 17.75 lakh families across 35,352 villages.