Islami Bank's share price has increased to the maximum

Share price of Islami Bank increased by 9.81 percent in the first hour of trading on the Dhaka Stock Exchange on Wednesday. This trend continued till the end of the day.

Meanwhile, there are allegations that major changes were made in Islami Bank in 2017 to free Jamaat. Jamaat-freeization of the bank started from June 2016.
In the 33rd Annual General Meeting of the bank on June 2 of that year, it was decided to appoint new shareholder directors and independent directors. Besides creating a new company, a Chittagong-based company bought the bank's shares from the stock market. Directors are appointed in the bank on behalf of these companies.
At present, most of the directors of the bank are representatives of various institutions in Chittagong. After the change in ownership, former secretary Arastu Khan, who was the appointed director of Armada Spinning Mills, an S Alam Group company, was made the bank's chairman.
Arastu Khan resigned as he could not accept the various decisions of the bank. Later, Nazmul Hasan, a former teacher of the Institute of Nutrition and Food Science of Dhaka University, was appointed as the director from the same institution. It is known that since its establishment in 1983, various Jamaat-related individuals and organizations were running the bank without any problems until 2011.
In November 2011, the capital market regulatory body BSEC made new rules, in order to be a listed director, the director must hold at least 2 percent of the company's shares. After making this provision, the exclusive dominance of Jamaat-related individuals and institutions in the bank has declined somewhat.
A Chittagong-based group bought shares from the stock market in 2017 and took ownership of the bank using the opportunity to hold 2 percent shares. After that, various incidents of loan irregularities started in the bank.