Obaid Ullah Al Masud, the current Chairman of Islami Bank, has faced allegations of irregularities and corruption. Former board members and officials of the bank have been accused of embezzling over 70,000 crore BDT in loans through the S. Alam Group. These loans were reportedly distributed both directly and under various aliases—53,000 crore directly and 17,000 crore under other names.

Regarding these allegations, Obaid Ullah Al Masud stated that the assets mortgaged against the S. Alam Group’s loans are currently being evaluated. He also mentioned that 20 legal actions have been taken against S. Alam Group, and 7 senior officials involved in the loan disbursement have been dismissed.

To overcome the current crisis, Masud has developed a roadmap to restore stability and regain customer trust in the bank. He said, “The year 2024 will be the year of overcoming problems, 2025 and 2026 will be years of recovery, and 2027 to 2029 will be years of progress.”