Bank regulates positions of 864 staff members at Al-Arafah Islami Bank
Al-Arafah Islami Bank Completes HR Reform, Aims for Transparency and Compliance
Al-Arafah Islami Bank PLC, one of Bangladesh's leading Islamic financial institutions, has successfully completed a comprehensive HR reform initiative. The reform, which involved the regularization of 864 officers and the separation of 547 officers, was undertaken to ensure the bank's human resources are structured, transparent, and compliant.
The evaluation process, conducted under the guidance of regulatory authorities and impartially by the Institute of Business Administration (IBA), University of Dhaka, aimed to address recruitment-related irregularities identified since 2021. The bank expressed concern about some former officers and external interests attempting to disrupt the lawful and transparent HR reform initiative.
The misuse of a legitimate internal reform process to spread misinformation and create institutional instability is deeply regrettable, according to the bank. This sentiment was evident in the bank's response to a recent incident where the forced closure of its head office obstructed normal operations and caused undue stress to current staff.
Despite the challenges, the bank remains committed to maintaining a fair, merit-based workplace that aligns with national priorities and regulatory expectations. The regularised officers continue to serve the bank with professionalism and dedication, while the 547 officers were separated from service in accordance with all relevant laws, internal HR policies, and the Bangladesh Labour Law.
Financial dues and entitlements of the separated officers were settled in full as required by legal provisions. Al-Arafah Islami Bank also acknowledged the contributions of the 547 officers by issuing experience certificates, release letters, and all necessary documents.
The bank reaffirmed its commitment to discipline, governance, and lawful conduct. The evaluation was done in response to recommendations from internal and external audits, and the bank remains dedicated to ensuring its operations are efficient, compliant, and transparent.
In a statement, Al-Arafah Islami Bank PLC emphasized that external interference in banking operations is contrary to the national interest. The bank remains committed to upholding its reputation as a trusted financial institution and will continue to prioritize integrity, transparency, and compliance in all its operations.
- In light of the HR reform, Al-Arafah Islami Bank is now focusing on maintaining a compliance-oriented business environment, with a particular emphasis on its banking and finance operations.
- With the successful completion of HR reform efforts, Al-Arafah Islami Bank aims to ensure its industry-wide reputation for transparency extends beyond human resources to encompass its banking-and-insurance sectors as well.
