S Alam

BB reshuffles Al-Arafah Bank's board to counter S Alam Group's influence

Mizanur Rahman

Bangladesh Bank reconstituted the board of Al-Arafah Islami Bank on 3rd September to eliminate the influence of the S. Alam ...

HC directs govt to submit list of immoveable properties of S Alam, others

Staff Correspondent

The High Court (HC) directed the government to submit a list of all immoveable properties owned by S Alam Group, ...

Allegation Of Money Laundering Against S Alam, Farzana

HC asks ACC to submit probe update by Sept 29

Staff Correspondent

The High Court on Sunday asked the Anti-Corruption Commission Chairman to submit a progress report by next September 29 over ...

Globe Edible Oil sues S Alam Group for compensation

Shamsul Huda

Globe Edible Oil Limited (GEOL) seeks compensation from S. Alam Group, as the previous controlling entity of IBBL, accusing it ...

Committee formed to probe stock manipulation by S Alam, Salman F Rahman

Observer Online Report

The Bangladesh Securities and Exchange Commission (BSEC) on Monday formed a committee to investigate the stock market involvement and activities ...

SIBL MD, two DMDs resign as S Alam Group loses grip on banks

Business Correspondent

Zafar Alam, Managing Director of Social Islami Bank Limited (SIBL) has resigned on Wednesday. Two deputy managing directors of the ...

S Alam's 14 Luxury Cars Removal

Ctg South BNP convening committee dissolved

Three leaders suspended

Nurul Amin

Ctg South BNP convening committee dissolved

CHATTOGRAM, Sept 2: The central committee of BNP has dissolved the convening committee of Chattogram District South Unit on Sunday. ...

Ex-army official among 2 stabbed dead in Ctg S Alam Group's power plant

Shakib Ahmed

Two security personnel were stabbed to death at SS Power Plant, a coal-fired power plant owned by S Alam Group ...

BNP’s Salahuddin apologises for ‘inadvertently’ riding in S Alam’s vehicle

Observer online report

BNP Standing Committee member Salahuddin Ahmed offered an apology to the country’s people on Monday for what he termed “inadvertently ...

S Alam's 14 luxury cars removed from warehouse, 3 BNP men issued show cause

Staff Correspondent

CHATTOGRAM Sept 1: A total of 14 luxury cars owned by the business conglomerate S Alam Group, have been allegedly ...

CID begins probing allegations of money laundering by S Alam Group

Observer Online Report

The Criminal Investigation Department (CID) on Saturday announced it has launched an investigation into the allegations of laundering over Tk ...

CID launches probe into S Alam's Tk 113,245cr money laundering

Staff Correspondent

The Criminal Investigation Department (CID) has launched an investigation into the allegation of laundering of Tk 113,245 crore (approximately USD ...

S Alam's bid to build ERL-2 unit rejected

Staff Correspondent

CHATTOGRAM, Aug 29: The proposal for signing MOU (Memorandum Of Understanding) with the S Alam Group for construction of the ...

S Alam assets to be sold to refund depositors money: BB Governor

Business Correspondent

Bangladesh Bank (BB) Governor Dr. Ahsan H Mansoor said S Alam's corporate assets will be sold to recover stolen bank ...

Refrain from buying S Alam Group's assets: BB Governor

Observer Online Report

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur has urged all not to purchase any assets or properties owned by ...

BB stops S Alam group's credit card transactions

Jibon Islam

Bangladesh Bank (BB) on Tuesday ordered closure of all loan facilities to Saiful Alam Masud, the leader of S Alam ...

Bank accounts of 4 firms linked with S Alam's PS frozen

Business Correspondent

The Bangladesh Financial Intelligence Unit (BFIU) has asked banks to freeze the accounts of four companies linked with Md Akiz ...

BB suspends S Alam's cash withdrawals

Observer Online Report

Bangladesh Bank (BB) has instructed six banks linked to S Alam Group to suspend fund transfers and cash withdrawals in ...

MoU with S Alam on upgrading state-owned sugar mills cancelled

Business Correspondent

A memorandum of understanding (MoU) signed between the Bangladesh Sugar and Food Industries Corporation (BSFIC) and S Alam & Co, ...

'Islamic banks ruined by S Alam Group should be returned to founders'

Islamic banks must be operated by the people who founded those banks based on Shariah to serve financial inclusion for ...

S Alam continues to withdraw Taka in crores from banks

Jibon Islam

S Alam is tactfully withdrawing money from banks under his control under the guise of consumer goods business despite restrictions ...

S Alam loan fraud: No response to ACC inquiries

The Anti-Corruption Commission has made little headway in its investigations into allegations of Tk 33 billion in losses by the ...

BB suspends lending, L/C opening in six banks run by S Alam Group

Business Correspondent

Bangladesh Bank (BB) has imposed restrictions on giving loans to parties and prohibited opening letter of credit (LCs) on six ...

BB restricts 6 S Alam-controlled banks from giving loans

Observer Online Report

Bangladesh Bank (BB) has imposed restrictions on giving loans and prohibited opening Letter of Credits (LCs) for import in six ...

S Alam Group borrowed Tk 670b alone from an IBBL Ctg branch

At the Khatunganj branch of the Islami Bank in Chattogram, the funded loan balance for S Alam Group's companies has ...

NBR tightens grip on S Alam Group, summons bank accounts

Business Correspondent

The National Board of Revenue (NBR) has initiated a sweeping probe into the financial dealings of S Alam Group, one ...

NBR seeks S Alam, family’s bank account details

Observer Online Report

The National Board of Revenue (NBR) has sought details of bank accounts associated with the industrialist Mohammad Saiful Alam, known ...

Govt, S Alam to revive loss making state-owned sugar mills

Business Correspondent

S.Alam & Co., countrys one of the leading industrial groups and Bangladesh Sugar and Food Industries Corporation (BSFIC) and the ...

HC discharges rule over probing loan scam by S Alam Group

Staff Correspondent

The High Court (HC) on Tuesday discharged its suo motu (voluntary) rule that had directed the authorities concerned to probe ...

Fire breaks out at S Alam’s edible oil factory in Ctg

Observer online reports

A fire broke out at an edible oil factory of S Alam Group at Moijjartek in Chattogram on Friday.Fire Service ...