Dhaka, 17 July 2025 — Obayed Ullah Al Masud has resigned as chairman of Islami Bank Bangladesh Limited, bank sources confirmed on Wednesday. The resignation comes shortly after the Bangladesh Financial Intelligence Unit (BFIU) launched a financial investigation into his and his family’s banking activities.
The former top banker, who previously served as Managing Director of Sonali Bank (2016–2019) and Rupali Bank (2012–2016), had returned from retirement to take on the chairmanship of Islami Bank following major changes in the institution’s leadership.
In the aftermath of last year’s July Uprising that resulted in the fall of the Sheikh Hasina-led government, Islami Bank’s Board of Directors was dissolved. A restructured board was formed on 24 August 2024, and five new independent directors were appointed. Among them, Obayed Ullah was chosen to lead as chairman.
His sudden resignation follows a letter issued by the BFIU on 14 July, requesting all scheduled banks to provide detailed account-related information for Obayed Ullah and his family members. The requested data includes account opening forms, updated account statements, investment certificates, bonds, credit card usage, locker records, and any transaction involving over Tk 500,000.
The financial watchdog’s move is part of a broader investigation aimed at ensuring transparency in the banking sector and examining possible links to illicit financial activity.
So far, Islami Bank has not issued an official statement regarding his departure or the ongoing inquiry.
