Qazi Baharul Islam
Qazi Baharul Islam | |
|---|---|
| Alma mater | University of Dhaka |
| Occupation(s) | Scholar, Banker |
| Known for | Former chairman of Sonali Bank |
Qazi Baharul Islam is a Bangladeshi scholar and the former chairman of Sonali Bank, the largest financial institution in Bangladesh. He was at the helm of the bank during the period of the Hallmark-Sonali Bank Loan Scam.
Early life
Islam pursued postgraduate education in political science at the University of Dhaka.
Career
In 1988, Islam held the position of general manager at Sonali Bank's branch in the United Kingdom. Between 2005 and 2007, he served as the principal of Rupali Bank Training Academy.
After the Awami League assumed power in January 2009, Islam was appointed as chairman of Sonali Bank, alongside new chairpersons for Agrani and Janata Banks.
During Islam's leadership, Hallmark Group obtained loans amounting to BDT 37 billion from Sonali Bank, which became known as the Hallmark-Sonali Bank Loan Scam. Although Bangladesh Bank advised the removal of all directors from Sonali Bank, Finance Minister Abul Maal Abdul Muhith opposed this recommendation. The Parliamentary Standing Committee on Finance conducted its own inquiry into the matter. The majority of these loans were issued through the Ruposhi Bangla Hotel branch.
Islam's term ended, and he was succeeded by Professor A. H. M. Habibur Rahman on 27 December 2012, approximately two months after his tenure concluded. The Awami League government encountered criticism regarding corruption within state-owned banks and for appointing party affiliates to key positions. Meanwhile, several other state bank governors had their terms extended by two years.
Following questioning in 2013–2014, investigations by the Anti-Corruption Commission into Islam and other Sonali Bank board members were discontinued. The bank's board attributed responsibility for the scam to Islam, who was widely reported by media outlets as orchestrating the fraudulent activities. He allegedly challenged Bangladesh Bank governor Atiur Rahman and overruled decisions of Sonali Bank’s board.
Economist Ahsan H. Mansur condemned the absence of formal charges against Islam and fellow directors as of March 2024, highlighting that some former board members had become parliamentarians representing the Awami League. Both Mansur and Salehuddin Ahmed criticized legal actions for focusing on lower-level officials while neglecting principal directors.