Islami Bank acting Managing Director Md Altaf Hossain said, “There is no provision in the bank to directly file a complaint with the ACC. If we file any case, we do so through the court.”

Islami Bank Bangladesh Ltd yesterday filed a complaint with the Anti-Corruption Commission against 38 people, including former president Mohammed Shahabuddin and S Alam Group Chairman Saiful Alam, over the alleged embezzlement of around Tk 500 crore.

Bank alleges Suprov Composite Knit’s loan limit was raised from Tk 100 crore to Tk 500 crore through irregularities after S Alam Group took control of Islami Bank

S Alam Group has shut down all its factories in Karnaphuli upazila of Chattogram, halting operations in 11 industrial units, company insiders have said.

Watch this multimedia production to find out more on the investigative report published by The Daily Star today

Those taken to the DGFI office said the day’s operations centred on one man: S Alam, a feared figure during the AL’s 2009–2024 rule due to his ties to Sheikh Hasina and her family

The Bangladesh Competition Commission (BCC) has fined S Alam Super Edible Oil Ltd Tk 42.84 crore for artificially inflating cooking oil prices by restricting supply and colluding with dealers and rivals to manipulate the market in 2022.

The S Alam Group owner, Mohammad Saiful Alam, has recently taken Bangladesh to the arbitration arm of the World Bank.

The Anti-Corruption Commission has filed three separate cases against 15 individuals, including S Alam Group Chairman Mohammad Saiful Alam and Proshanta Kumar Halder, former managing director of Reliance Finance Limited (now Aviva Finance), over the alleged embezzlement and laundering of approximately Tk 270 crore from non-bank financial institutions.

Mohammed Saiful Alam and his family have acquired vast wealth at home and abroad, using money siphoned off through loans taken in the name of front companies

The Anti-Corruption Commission has filed two cases accusing S Alam Group owner Mohammed Saiful Alam and his wife Farzana Parveen of amassing illegal wealth worth Tk 1,539.85 crore.

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.