Staff Correspondent:
Rupali Bank Zia Parishad has submitted a memorandum to the Ministry of Finance demanding the removal of Rupali Bank PLC Managing Director (MD) Kazi Wahidul Islam, citing allegations of corruption, nepotism, administrative discrimination, financial irregularities, and political favoritism.
The memorandum, submitted on June 4 and signed by Convener Md. Golam Sarwar, Senior Joint Convener ASM Niaz Morshed, and Member Secretary Monjur Morshed Chowdhury, called for an impartial investigation into the allegations and restructuring of the bank’s administrative framework.According to the memorandum, transparency and accountability within the state-owned bank have been severely undermined under the leadership of Kazi Wahidul Islam. The organization alleged that politically affiliated individuals have been appointed to key positions, while promotion and transfer processes have been influenced by favoritism. Officials holding differing views were reportedly transferred to remote branches and deprived of career advancement opportunities.The memorandum also claimed that Kazi Wahidul Islam is an accused in FIR No. 06 and CR Case No. 63/25 filed in connection with the July movement. It further noted that he has long served as Senior Vice President of the Bangabandhu Engineers’ Council, raising concerns among stakeholders regarding his continued role as Managing Director of a state-owned financial institution.
Zia Parishad alleged that since assuming office, the MD has appointed politically close officials to strategic positions, creating a partisan environment within the bank’s administration.The memorandum further stated that Rupali Bank incurred losses of approximately Tk 587 crore up to May 2026. It blamed the bank’s financial decline on what it described as management inefficiency, poor decision-making, and administrative irregularities.
Referring to an investigation report issued by Bangladesh Bank’s BSD-4 (Wing-1) Division on April 29, 2026, the memorandum alleged that loans were approved to Mastex Limited despite the company facing money laundering allegations and audit objections. Questions were also raised regarding the role of the Managing Director in the decision-making process.Additional allegations included the unauthorized withdrawal of approximately Tk 15 million through 24 cheques by former Rupali Sadan Corporate Branch Head Sakhawat Hossain. Several officials working in the SME Division were also accused of involvement in loan fraud and other irregularities.
The memorandum further alleged nepotism in appointments, claiming that Kazi Wahidul Islam appointed Shafiqur Rahman, a former APS to a previous MD, as his Personal Secretary (PS), and Mahmudul Hasan Tutul as APS. These individuals were allegedly involved in influencing promotion and transfer decisions.According to the memorandum, the placement of controversial officials in key administrative units, including the Human Resources Division, has undermined the transparency of promotion and transfer processes. It also alleged that politically connected officials were assigned to important branches and departments, while others faced discriminatory transfers.
Concerns were also raised regarding the bank’s sports and training sectors. The memorandum noted that the annual sports competitions for employees were not held in 2025 and 2026, despite expenditures reportedly being allocated for those activities. It also demanded an independent audit of the Training Institute’s operations and expenditures.Repeated attempts were made to contact Rupali Bank Managing Director Kazi Wahidul Islam for comments regarding the allegations. However, he declined to comment on the matter.
