President Mirza Fakhrul Islam Alamgir has accepted the resignation of State Minister for Liberation War Affairs Ishraque Hossain.
The Cabinet Division issued a gazette notification to this end on Tuesday.
The resignation takes effect immediately, according to the notification.
Ishraque formally announced his resignation at a press conference at the Jatiya Press Club on Monday afternoon.
The Dhaka-6 MP came under criticism on Saturday after brandishing a firearm during an anti-drug drive in Dhaka's Gandaria.
A video of the incident went viral on social media, triggering widespread reactions, including in political circles. The video showed Ishraque and his bodyguards brandishing firearms and using force against members of the public.
At the press conference, Ishraque said he had voluntarily decided to step down as state minister for Liberation War Affairs.
He claimed that he had taken up arms temporarily in self-defence and had not violated any law.
However, he said he had decided to resign to protect his party’s image and uphold its honour.
He also said he would continue his anti-drug activities as an ordinary party activist, even without holding public office.
It is widely believed however that he was asked to resign by the prime minister in the aftermath of the viral incident last Saturday.