Islami Bank Conscious Depositors’ Forum on Tuesday submitted a memorandum to the Bangladesh Bank Governor demanding a transparent, professional management structure to safeguard public money.

The platform warned of launching a rigorous countrywide agitation if the central bank fails to immediately form an acceptable and professional board of directors, and hand the bank's ownership back to its genuine shareholders.

The forum strongly criticided the centralidation of all administrative powers under a single central bank administrator, stating that running a massive financial institution without a fully functioning board is detrimental to corporate governance.

They expressed apprehensions that a long-term administrative regime could inadvertently allow controversial individuals or remnants of the previous looting regimes to re-enter the management.

The demands are immediate formation of a complete, honest, and professional board of directors, restoring the bank's ownership and shares to its genuine, original owners, establishing a special tribunal to try those involved in looting bank funds, implementing immediate steps to stabilize the bank and curbing negative propaganda, tracking down, freezing, and bringing back laundered wealth and assets from abroad.

Besides, amending the Bank Company Act to permanently bar financial fraudsters from rehabilitation and withdrawing controversial statements regarding Islami Bank made in Parliament.