Social Islami Bank has terminated 579 assistant officers reportedly appointed under the influence of the S Alam Group in violation of the bank鈥檚 hiring protocol.
The bank issued termination letters to the employees recently with effect from November 1, 2024, stating that despite the end of their employment, they would remain liable for any future losses or damages to the bank caused by actions during their tenure.
The SIBL revealed that about 2,000 of its 4,750 officers were hired from Chattogram district allegedly without competitive job exams or proper recruitment processes.
Among the dismissed, 570 were recruited this year and 9 in 2023.
Bank officials confirmed that these appointments were made without job notifications or recruitment exams, and their documents were not verified.
Since these hires did not follow standard procedures, their employment was not confirmed after the six-month probationary period, leading to their termination, they said.
SIBL chairman M Sadikul Islam described the dismissals as part of an ongoing process.
The bank was working within the rules to prevent future irregularities, he said. Addressing those involved in past wrongdoings is also part of our efforts to restore order, he added.
The bank has been struggling with severe liquidity crisis due to massive loan irregularities.
In November 2022, the bank鈥檚 current account with the central bank hit a negative balance, a rare and serious issue, yet the central bank failed to take action, raising questions about its oversight.
Allegations have it that the Chattogram-based S Alam Group forcibly assumed control of the SIBL on October 30, 2017.
The group held 47 per cent shares 鈥� in name and anonymously 鈥� in the SIBL.
Currently, the bank鈥檚 operational account with the Bangladesh Bank shows a deficit.
There are also allegations that job candidates from Patiya of Chattogram were given preferential hiring treatment.
S Alam Group withdrew allegedly Tk聽7,000 crore in loans from the bank in names and anonymous.
Businessman S Alam was one of the closest allies of deposed prime minister Sheikh Hasina during her tenure.
The Awami League regime was ousted on August 5 amid a student-led mass uprising.
On August 26, Bangladesh Bank restructured the bank鈥檚 board, removing S Alam group-connected directors from the board.
