Islami Bank Bangladesh PLC has announced the auction of S Alam Group鈥檚 properties, including a steel mill, a power plant, an edible oil factory and 1,149 decimals of land, to recover outstanding dues amounting to Tk聽2,179.95 crore...
The Dhaka Metropolitan Senior Special Judge Court on Sunday ordered the Anti-Corruption Commission to confiscate 563.57 acres of land worth Tk 1001.76 crore owned by S Alam Group chairman Mohammed Saiful Alam and his聽entities.
A court in Dhaka on Wednesday ordered to seize 15,915 decimal lands worth Tk 407 crore belonging to S Alam Group chairman Mohammad Saiful Alam and his related persons or entities.
The Islami Bank Bangladesh PLC has announced the auction of about 11 acres of land, factories and warehouses owned by the controversial Chattogram-based conglomerate S Alam Group, in a bid to recover nearly Tk聽10,000 crore in defaulted loans.
The Anti-Corruption Commission on Tuesday filed two separate cases against S Alam Group chairman Mohammad Saiful Alam,聽 also known as S Alam, and his wife Farzana Parveen on charges of abusing power and amassing illegal wealth worth Tk聽1,596 crore.
Islami Bank Bangladesh PLC has issued a notice to auction the assets of Infinity CR Strips Industries Limited, a subsidiary of S Alam Group, to recover outstanding loans...
A Dhaka court on Tuesday imposed travel bans on 11 people involved with the interests of S Alam Group chairman Mohammad Saiful Alam, and his family...
A recent Bangladesh Bank inspection has revealed that employees of banks previously controlled by S Alam Group systematically facilitated massive, unrecorded cash withdrawals for the controversial conglomerate.
A Dhaka court on Wednesday ordered to freeze shares, owned by S Alam Group owner Mohammed Saiful Alam and his family members, worth more than Tk 5,109 crore of different companies and profit against the shares...
The Dhaka Metropolitan Senior Special Judge Court on Thursday ordered the seizure of over 58 acres of land worth Tk 368.25 crore owned by S Alam Group chairman Mohammad Saiful Alam, his family members and business entities.
THE shocking extent of financial crimes of the S Alam Group is evident in the recent disclosure of the amount of loans that the group has taken out from 10 banks and a non-bank financial institution. The Financial Intelligence Unit reveals that the group had taken a staggering Tk 2.25 lakh crore, or $16.6 billion, from these institutions. About 44 per cent, or...
Controversial Bangladesh-origin business tycoon S Alam Group has acquired a staggering Tk聽2.25 lakh crore from 10 banks and a non-bank financial institution, pushing the country鈥檚 banking sector and economy into a severe crisis.
The Dhaka Metropolitan Senior Special Judge鈥檚 court on Tuesday ordered the seizure of 68 bank accounts and 16 properties of S Alam Group chairman Mohammed Saiful Alam and his family.
The Bangladesh Bank has asked six banks to send their managing directors on a three-month leave before the banks鈥� forensic audits to be conducted by an international audit firm.
The S Alam Group reopened its nine factories on Wednesday following its withdrawal of the closure notices for the factories in the previous day...
Six factories under the controversial S Alam Group have been shut down indefinitely, leaving employees and workers of the factories in distress.
Islami Bank Bangladesh Limited managing director Mohammed Monirul Moula has remained absent in the office since Sunday as he has been barred by a group of officials from entering the office on allegations of continuing his support to controversial S Alam group.
A female entrepreneur in Chattogram filed a case against S Alam Group chairman Saiful Alam and his personal assistant, Akij Uddin, alleging embezzlement of Tk 29 crore.
A meeting of the Cabinet Committee on government purchase on Wednesday approved 16 proposals, including two on purchasing edible oils from S Alam Super Edible Oil Ltd, a subsidiary of the controversial S Alam Group...
Officials and employees of the privately-owned First Security Islami Bank staged a protest in front of the residence of S Alam Group鈥檚 owner in Chattogram, demanding repayment of Tk 35,000 crore...
The Chattogram Artha Rin Adalat has ordered the seizure of shares held by S Alam Group chairman Saiful Alam and his brother Abdus Samad with two banks, in connection with a Tk聽2,000 crore loan default at Janata Bank.
Janata Bank PLC has filed a Tk 1,963 crore defaulted loan case against controversial business conglomerate S Alam Group in Chattogram Money Loan Court.
The dismissed officers and employees of three private banks owned by the S Alam Group staged a protest by blocking the Chattogram-Cox鈥檚 Bazar highway on Sunday morning, demanding their reinstatement...
The Anti-Corruption Commission on Thursday summoned 17 officials of Bangladesh Bank for interrogation in connection with the embezzlement of money through sanctioning loans of thousands of crores of taka...
Mohammed Saiful Alam, chairman and founder of S Alam Group, has claimed protection under his Singapore citizenship from what he described as a 鈥榗ampaign of intimidation鈥� led by Bangladesh Bank governor Ahsan H Mansur against his business conglomerate, according to a report published by the Financial Times on Monday.
Union Bank PLC and First Security Islami Bank PLC have dismissed a total of 456 officers, allegedly appointed under the influence of controversial S Alam Group bypassing established recruitment protocols...
First Security Islami Bank has taken decisive action against officials implicated in money laundering and issuing fraudulent loans to S Alam Group. The bank has withdrawn 194 officials, including 24 branch managers from its Chattogram region, in a sweeping move to address the irregularities...
Islami Bank PLC鈥檚 board of directors have appointed four audit firms to investigate irregularities in the bank after it was occupied by S Alam Group, according to a board member who confirmed the development to UNB.
Social Islami Bank has terminated 579 assistant officers reportedly appointed under the influence of the S Alam Group in violation of the bank鈥檚 hiring protocol...
In an interview with the Financial Times, Bangladesh Bank governor Ahsan Mansur accused powerful business tycoons of siphoning off $ 17 billion from the banking sector of the country during the 15-year rule of the ousted prime minister Sheikh Hasina...