2024-08-22 00:59:13
Published: 16:09, 21 August 2024 Updated: 16:53, 21 August 2024
Bangladesh Bank Governor Dr. Ahsan H. Mansoor said that the board of Islami Bank will be dissolved and a small board will be formed with the cooperation of the government. Apart from that, independent directors will be appointed within two days. Action will be taken on the board of all the banks held by S Alam in stages.
He said these things in a press conference organized in the board room of Bangladesh Bank on Wednesday (August 21).
He said, now Islami Bank does not own two percent shares in the name of anyone other than the S Alam Group or the individual organizations associated with its interests. So later when any shareholder owns two percent share then the director will be appointed from among them. Now the government does not want to take the shares of any private bank.
During the tenure of the outgoing government, loan scams, encroachment and looting took a terrible form in the banking sector. S Alam Group took over about 8 banks including Islami Bank. After taking over these banks, S Alam Group took thousands of crores of loans anonymously. Not only the loans, the influential group has opened companies in the name of private institutions to keep the ownership of these banks in their hands. S Alam Group failed to withdraw large amount of cash from Islami Bank after the sudden resignation of Sheikh Hasina government in the face of student movement. Later the group is trying to grab around 5500 crores by selling anonymous shares in their name. In such a situation, shareholders and investors have demanded action from Bangladesh Bank and Bangladesh Securities and Exchange Commission (BSEC) to prevent the sale of shares of this influential group.
After this, the Bangladesh Securities and Exchange Commission (BSEC) has imposed restrictions on the sale and transfer of the shares of group chairman Mohammad Saiful Alam and 25 members of his family in six banks owned by S Alam Group. BSEC has taken this decision in the light of Bangladesh Bank’s instructions. And this time, Bangladesh Bank has decided to dissolve the board of Islami Bank and form a new one.
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