Shakib, Bangladesh's most prominent cricketer, will also not be allowed to play in overseas competitions till the end of 2015, Bangladesh Cricket Board (BCB) president Nazmul Hassan said.
"He has a severe attitude problem, which is unprecedented in the history of Bangladesh cricket. That is affecting the total team," Hassan told reporters.
Shakib was accused of travelling to the West Indies to play in the Caribbean Premier League Twenty20 tournament without a clearance from his board and was subsequently ordered to return to Bangladesh.
The 27-year-old, who has played 34 tests and 136 one-day-internationals, had reportedly threatened to quit playing for the country and had an altercation with coach Chandika Hathurusinghe, an allegation Shakib has denied.
"It is not easy to take such action against player like Shakib but we had to take it for the welfare of the country's cricket," the BCB chief added.
Shakib will miss Bangladesh's tour of West Indies starting next month when they will play three one day internationals, a T20 international and two tests.