Special instructions of Bangladesh Bank for 6 banks of S Alam

Bangladesh Bank has imposed limits on disbursement of loans to six banks owned by the controversial S Alam Group. To give loans of more than 5 crore rupees to these banks, the permission of Bangladesh Bank must be obtained.

Institutions that have overdue and overdue loans cannot be renewed without cash collection.

Bangladesh Bank has sent letters to six banks informing them of this decision today.

The six banks are Islami Bank, Social Islami Bank, First Security Islami Bank, Union Bank, Global Islami Bank and Commerce Bank.

Earlier, the same limit was fixed in the case of private sector National Bank.

Economist Ahsan H Mansoor joined as governor last Wednesday. Bangladesh Bank has taken this new decision after that.

In the letter sent to the banks, Bangladesh Bank said that this measure has been taken to prevent deterioration of the overall financial condition of the bank and to protect the interests of the depositors.

It has been said that this order has been given under the authority of the Bank Companies Act to improve the financial condition of the bank and protect the interests of the depositors.

Bangladesh /SBT