S Alam Group owner Mohammed Saiful Alam has initiated a legal effort as a Singaporean citizen to recover financial losses he claims were caused by the Bangladeshi government freezing his assets and harming his investments, The Financial Times reports.
Over a hundred officials from 11 branches of First Security Islami Bank Limited in the Chattogram region and city held a sit-in today in front of S Alam House in the port city demanding debt repayment.
A top official, requesting anonymity, said that the new board of the bank uncovered irregularities in loan disbursement at 24 branches and found evidence linking the 194 officials to these loan scams.
The bank also intends to invite its former foreign shareholders, including Al Rajhi and the International Finance Corporation, to re-engage with the institution
He also said that legal action would be taken against the S Alam Group chairman and other officials for their alleged crimes in the banking sector
In a bid to ensure tax compliance, the government has blocked the transfer of shares of seven corporate giants that thrived under the Awami League government.
The NBR instructed the RJSC to immediately block any sales or transfers of shares, whether through donations or otherwise
Watch today's episode of Star Viewsroom to find out more
Ashraful Alam and Asadul Alam Mahir, two sons of controversial businessman Mohammed Saiful Alam, deprived the state of Tk 75 crore in taxes by legalising Tk 500 crore in undisclosed income, documents obtained by The Daily Star have revealed.
S Alam Group owner Mohammed Saiful Alam has initiated a legal effort as a Singaporean citizen to recover financial losses he claims were caused by the Bangladeshi government freezing his assets and harming his investments, The Financial Times reports.
Over a hundred officials from 11 branches of First Security Islami Bank Limited in the Chattogram region and city held a sit-in today in front of S Alam House in the port city demanding debt repayment.
A top official, requesting anonymity, said that the new board of the bank uncovered irregularities in loan disbursement at 24 branches and found evidence linking the 194 officials to these loan scams.
The bank also intends to invite its former foreign shareholders, including Al Rajhi and the International Finance Corporation, to re-engage with the institution
He also said that legal action would be taken against the S Alam Group chairman and other officials for their alleged crimes in the banking sector
In a bid to ensure tax compliance, the government has blocked the transfer of shares of seven corporate giants that thrived under the Awami League government.
The NBR instructed the RJSC to immediately block any sales or transfers of shares, whether through donations or otherwise
Watch today's episode of Star Viewsroom to find out more
Ashraful Alam and Asadul Alam Mahir, two sons of controversial businessman Mohammed Saiful Alam, deprived the state of Tk 75 crore in taxes by legalising Tk 500 crore in undisclosed income, documents obtained by The Daily Star have revealed.
Some entities of the much-talked-about S Alam Group and some family members of the group’s founder Mohammed Saiful Alam have around Tk 26,000 crore in six banks, said insiders, citing data sent by the banks to the National Board of Revenue (NBR).
