Dhaka, June 16 -- 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...