S. Alam took more than half of Islami Bank's loan

S Alam Group has taken more than half of the total loans of the country's largest private sector Islamic bank. And these loans have been taken in the names of various institutions. The new chairman of the bank, Obaid Ullah Al Masud, said these things after the meeting of the new board with the governor of Bangladesh Bank on Thursday (September 5).

Obaid Ullah Al Masud said that the full account of the loan taken by S Alam Group from the bank is being extracted now. Assets mortgaged against these loans are also being revalued. Because the loan has been taken out by showing the high price of these assets.

He also said that no mortgage has been given against Islami Bank's loan, and the assistance of the Law Ministry is being sought to trace such assets of S Alam Group. After finding these assets, they will be tried to take control of the bank.

The chairman of the bank said that the liquidity crisis started in the bank from 2022. Now the bank's customers, expatriate income remittance customers, shareholders and foreign entrepreneurial organizations – no one is getting confidence in the bank. For this, three audit institutions have been appointed to verify the actual condition of the bank. They will audit the bank's lending, investment and human resources. There was no good audit before, so this is the consequence of the bank today.

In response to the question of what kind of action will be taken against such officials of the bank who have cooperated with S. Alam, he said, “I do not want to remove the lower officials now.” Hit the bottom and everything will collapse. Some of the above officials have been removed. Action will be taken against everyone according to law, no one will be exempted from crime. Again no one will be removed in the wrong process.

In 2017, Chittagong-based business group S Alam Group took control of Islami Bank. The chairman of the bank was Ahsanul Alam, son of S Alam Group chairman Saiful Alam. The loan amount of the bank is 1 lakh 75 thousand crores. As the new chairman, S Alam Group alone took out about 88 thousand crores from the bank.

Bangladesh /FM