In recent months, several groups allegedly linked to S Alam Group tried to withdraw funds from the account using fake vouchers and cheques.
An independent director of Islami Bank and a senior central bank official confirmed the matter to The Daily Star
It happened in just two days. A Nabil Group employee and a relative of its chairman own the firm.
The banking regulator found the involvement of Md Abdul Jalil, independent director and executive committee chairman of the bank, in the loan irregularities.
He alleges that the same political party is engaged in widespread corruption at local levels
The bond will strengthen the bank’s capital base
The adviser made these remarks today during a press conference at the Secretariat in Dhaka
Islami Bank Bangladesh plans to sell the S Alam Group’s stake in the bank to realise dues of around Tk 10,000 crore from the controversial conglomerate.
The bank also intends to invite its former foreign shareholders, including Al Rajhi and the International Finance Corporation, to re-engage with the institution
The adviser made these remarks today during a press conference at the Secretariat in Dhaka
Islami Bank Bangladesh plans to sell the S Alam Group’s stake in the bank to realise dues of around Tk 10,000 crore from the controversial conglomerate.
The bank also intends to invite its former foreign shareholders, including Al Rajhi and the International Finance Corporation, to re-engage with the institution
Islami Bank Bangladesh PLC incurred a loss of Tk 89 crore in the third quarter of 2024, a first in the past couple of decades, due mainly to the necessity of retaining high provisioning against classified loans.
However, the bank made a profit of Tk 267 crore in the Jan-Sep period
Abu Nasser Muhammad Abduz Zaher resigned from the bank and left for London in 2015
Chattogram-based conglomerate S Alam Group has taken more than half of the total loans disbursed by Islami Bank Bangladesh Ltd (IBBL), according to the bank’s newly appointed Chairman Md Obayed Ullah Al Masud
Islami Bank’s former managing director Abdul Mannan had not appeared or spoken publicly since S Alam Group took control of the bank in March 2017.
The Bangladesh Bank has formed a new board of directors for crisis-hit Islami Bank Bangladesh, appointing five independent directors at the Shariah-based lender.
The Bangladesh Bank has incurred a loss of Tk 55 crore from its foreign exchange deal with Islami Bank centring the introduction of the crawling peg exchange rate system.
