Demonstrations demanding the removal of Islami Bank Bangladesh PLC Chairman Khurshid Alam entered a third consecutive day on Wednesday, as members of the “Islami Bank Sacheton Grahok Forum” – a depositors’ awareness group – resumed protests in front of the bank’s head office before marching toward the National Press Club and staging a sit-in outside the Secretariat.

The forum’s President, Nurul Nabi Manik, told reporters ahead of the march that Khurshid Alam had previously been removed by Bangladesh Bank officials in the wake of the July Uprising, citing involvement in financial irregularities during the tenure of the previous government.

His subsequent reappointment as chairman, Manik argued, was a governance failure that could destabilise one of the country’s most systemically significant financial institutions.

“Appointing such an individual as chairman could pose a threat to the stability of any banking institution,” Manik said.

He described Islami Bank Bangladesh PLC as one of the largest banks in Southeast Asia and cautioned that any institutional collapse would carry serious consequences for the broader national economy.

The warning underscores the stakes involved – Islami Bank has long been among Bangladesh’s largest private lenders by deposits and assets, with millions of retail customers.

Manik called on the government to restore sound governance at the bank by reinstating individuals with a proven track record of contributing to its development in managerial roles.

He also took aim at a predecessor, alleging that a former chairman had similarly failed to protect depositor interests, suggesting the bank has faced a pattern of leadership accountability failures.

“The ongoing movement is being conducted in a structured and lawful manner,” he said, framing the protests as a civic exercise in financial oversight rather than political agitation.

There was no immediate response from Islami Bank management or the Bangladesh Bank regarding the demonstrators’ demands.

The protests come at a sensitive moment for Bangladesh’s banking sector, which has faced sustained pressure over governance lapses, non-performing loans, and allegations of politically motivated appointments at several institutions. Regulators have in recent months attempted to reassert oversight authority, though critics say enforcement has remained inconsistent.

The forum has not announced a deadline for its demands, but organisers indicated the demonstrations would continue until the government takes concrete action.