Islami Bank Bangladesh PLC Chairman and Independent Director M Zubaidur Rahman has announced his plan to sell all the shares he owns in the bank through the Dhaka Stock Exchange (DSE).
According to a DSE disclosure, Zubaidur intends to offload 149,622 shares within the next 30 working days at the prevailing market price. Based on Wednesday’s trading rate of Tk 42.80 per share, the value of his holdings stands at around Tk 6.29 million.
Zubaidur took over as chairman on July 23 this year, replacing Obayed Ullah Al Masud, following major reshuffles in the board after the fall of the Awami League government last year.
Once considered a consistent performer, Islami Bank paid dividends of 10 percent or more every year since 2015, including 10 percent in 2023. However, it declared no dividend for 2024 due to worsening financial conditions. In the first six months of 2025, its earnings per share (EPS) fell below Tk 1, leaving investors with minimal returns.
The bank’s troubles are tied to allegations of large-scale fund siphoning. The Bangladesh Financial Intelligence Unit reported that S Alam Group—long seen as controlling the bank—has outstanding loans worth Tk 731.13 billion, nearly half of Islami Bank’s total loan portfolio.
Although recent liquidity stress has eased somewhat, the confidence of investors in the capital market remains weak.