Islami Bank Chairman Arastoo Khan says 'no witch-hunting' but no politics either

The new Islami Bank Chairman Arastoo Khan has said the bank will mean business, be thoroughly professional and will not tolerate 'political aspirations' among its staffers.

He made these comments on Thursday while taking questions from the press following his visit to the Ministry of Finance where he called on Finance Minister AMA Muhith.

On Jan 5, in the biggest ever rejig in the history of the bank, Arastoo was made chairman replacing Ibn Sina Trust representative Mustafa Anwar, known to be close to the Jamaat-e-Islami.

The bank since its establishment in Bangladesh has been known as Jamaat-leaning, with many of its management top brass having links with the party accused of perpetrating war crimes.

Jamaat leader Mir Quasem Ali, one of the founding vice-chairmen of the bank, was hanged last year for his involvement in the 1971 war atrocities.

Giving a glimpse of the changes that may be expected in the bank in its post-shakeup days, the new chairman said no-one would be 'hounded and sacked'.

He had an accompanying word of caution though. "...If anyone indulges in politics, we won't allow it...otherwise no-one will be sacked. I assure all," he said.

Explaining what he meant by political involvement, he said in response to a journalist's query, "By that I mean if someone has political aspirations, we do not want that. You are into a profession and you have to work like professionals."

"This is nothing political," he also added.

"You can vote. You can vote for BNP. You can vote for Awami League. You have that right. But that should not be reflected in your profession," Arastoo explained.

"I do not like witch-hunting unless I find something wrong," he said.

With a market capital value of over Tk 40 billion, and a total paid-off capital of Tk 16.1 billion, the bank earned a net profit of Tk 3.15 billion in 2015.

Pointing at what he termed "pretty good" performance of the bank in the stock market, he sought to put to rest fears of a slump in growth for the organisation following the shake-up.

He said the bank would continue to preserve and protect the holdings of national and international stakeholders.

Pay rise

At another programme, Arastoo Khan announced that the employees of the bank will see a rise in their salary.

Speaking at the business development conference of the bank, he also said the appointments and promotions in the bank will be made on the basis of merit from now on.

"If someone from any other religion agrees to conduct Sharia-based banking, he or she will be appointed. But all appointments and promotions will be made on the basis of merit."