A senior Islami Bank official said demand for cash had risen sharply. “Deposits are almost non-existent, while everyone wants to withdraw money. If this situation continues, there will be no option but to keep branches closed. Quick decisions are needed to restore customers’ confidence,” the official said.

All five directors of Islami Bank, including the chairman, are independent directors appointed by Bangladesh Bank. On 24 May, the last working day before Eid-ul-Azha, then chairman M Zubaidur Rahman resigned.

Later that night, at 9:00 pm, former Bangladesh Bank deputy governor Md Khurshid Alam was appointed as an independent director and the bank’s new chairman. Since then, protests have been taking place under the banner of the Conscious Customers’ Forum, which has put forward a seven-point demand, including the removal of the chairman.