Dhaka: Bangladesh Bank (BB) Governor Dr Ahsan H Mansur announced today that the central bank is taking legal action against individuals, not companies, to address alleged crimes in the banking sector. Speaking at a press conference at the central bank headquarters, he clarified that companies like S Alam Group and Beximco are considered national assets and would not be shut down.
According to Bangladesh Sangbad Sangstha, legal proceedings are being initiated against the chairman of S Alam Group and other officials. The focus remains on individual accountability rather than corporate actions. Newly-appointed Islami Bank Chairman Md Obayed Ullah Al Masud, who also addressed the press conference, disclosed a Tk20,000 crore gap between investments and deposits at Islami Bank.
Masud outlined a strategy to bridge the gap by selling shares held by S Alam Group and issuing new shares. He noted that S Alam Group holds shares with a face value of Tk1,600 crore, valued at nearly Tk10,000 crore in the market. The plan
includes raising an additional Tk10,000 crore through new share issuance. The bank will also reach out to former foreign shareholders like the International Finance Corporation (IFC) and Saudi Investor Al Raji group to reinvest by January.
Ahsan H Mansur emphasized that re-engaging previous foreign investors would enhance the credibility of Islami Bank.