The turmoil surrounding Islami Bank PLC continued for the third day as a group of protesters, under the banner of the Islami Bank Conscious Customers' Forum, held a procession demanding the removal of newly appointed Chairman Md Khurshid Alam.

The protest began in the morning today outside the bank's headquarters in Motijheel, Dhaka, and later the demonstrators held a rally near the National Press Club.

Protesters accused the government and Bangladesh Bank (BB) of conspiring to hand the bank back to "looters", warning that this could pose a serious threat to the economy and the banking sector.

Police reinforced security in the area by deploying additional personnel, water cannons, and armoured vehicles.

The demonstration began on Monday, the first working day after the Eid holiday, when the Islami Bank board was scheduled to hold a meeting following the appointment of Alam, a former deputy governor of BB.

At one point, police used sound grenades and water cannons to disperse the protesters, leaving many injured.

The protests disrupted the scheduled meeting, and Islami Bank later held a virtual board meeting in the evening, in which Alam also joined. The board accepted the resignation of former Managing Director Omar Faruk Khan.

Alam's appointment, made on the day before the Eid holiday, drew criticism in the banking sector. Many alleged that his role was controversial during the tenure of the Awami League government, when S Alam, a Chattogram-based businessman, took control of several Shariah-based banks and was involved in loan irregularities.

The protesters called for leadership reforms, the removal of those allegedly involved in past financial irregularities, and measures to prevent S Alam Group from regaining influence over the bank.