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...
State-owned Janata Bank has announced the auction of 2,971 decimals land belonging to聽S Alam Refined Sugar Industries to recover default loans.
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.
The Anti-Corruption Commission on Thursday filed a case against 58 people, including S Alam鈥檚 family members, Islami Bank managing director Mohammad Monirul Moula and its former chairman Ahsanul Alam, on charges of Tk 1,092 crore embezzlement through loan forgery...
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 Jatiya Nagarik Committee, a platform of the youths who played a pivotal role in the student-led mass uprising, announced its extended organisational structure Monday night, appointing Sarjis Alam as chief organiser.
Sarjis Alam, a coordinator of the Student Movement Against Discrimination and also general secretary of the July Shaheed Smriti Foundation, said that police uniforms continue to strike fear due to the...
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.
Jatiya Nagorik Committee staged a protest on Wednesday night at Dhaka University鈥檚 Raju Sculpture, condemning the attempted murder of Anti-Discrimination Students Movement conveners Hasnat Abdullah and Sarjis Alam...
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...
THE volume of non-performing loans in the banking sector had already been grim during the toppled Awami League. An even grimmer picture is reported with a staggering Tk 2.85 crore in default loans in September, which is a radical increase from what was reported earlier this year. The central bank data show that the defaulted loans shot up to...
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...
The Jatiya Party, ousted Awami League regime鈥檚 close ally, on Saturday staged demonstrations in Rangpur protesting at the visit of Student Movement Against Discrimination central coordinator Sarjis Alam...
A Dhaka court has issued a travel ban on Saiful Alam, the owner of S Alam Group, his wife Farzana Parveen and 11 family members.
Bangladesh Financial Intelligence Unit has finally frozen the bank accounts of S Alam Group chairman Saiful Alam and his associates, amid allegations of corruption, asset accumulation, and...
The High Court on Sunday directed the interim government to submit a comprehensive list of all the immovable assets owned by S Alam Group, its shareholder directors, and...
A Supreme Court lawyer has lodged a complaint with the Anti-Corruption Commission (ACC), seeking legal action against the two sons of controversial businessman Mohammad Saiful Alam, chairman of...