Bangladesh Bank has ordered to stop all types of credit facilities in the name of Saiful Alam Masood, the leader of S Alam Group and his related persons or organizations. Also they cannot withdraw the deposit money. Even a credit card in their name cannot be transacted.
Bangladesh Bank has issued these instructions to six banks owned by S Alam Group.
These banks are Islami Bank Bangladesh, Social Islami, First Security Islami, Global Islami, Union and Bangladesh Commerce Bank.
Meanwhile, the regulatory body has already freed Islami, Social Islami and National Bank from the hands of S Alam Group. After that they took such steps.
The central bank has also started monitoring these banks and other banks in which the group has loans in its name. For this, a special team of the central bank has been formed, which has started inspecting the banks.
The central bank gave that instruction last Thursday. Similar instructions have been given for the loans in the name of S Alam Group in other banks.
Meanwhile, the regulatory agency has started collecting information on the group’s anonymous loans. For so long, the group withdrew money anonymously from various banks with the connivance of the central bank. Now that the government has changed, they are taking various measures.
According to the instructions of Bangladesh Bank, no new loan facility can be given in the name of S Alam Group and its related institutions. Their previous loans also cannot be renewed. Although there are approved loans and credit limits in the name of these institutions and groups, no withdrawal facility can be given against them. That is, money cannot be withdrawn, transferred or removed in any other way from these accounts. Apart from this, even if the loan or guarantee period approved in the name of these institutions-groups, new facilities cannot be given against it.
However, in the case of payment of such liabilities, which have been opened before, the foreign currency account, export repatriation quota or cash deposit of the concerned institution can be used. These organizations should stop buying any kind of bills. Besides, no application can be made to Bangladesh Bank for any refinancing facility on behalf of these institutions. If there is a credit card in the name of the institution, transactions in cash or foreign currency must be stopped.
However, money can be deposited in any account of the organization. If the deposit is in the name of S Alam and in the name of the anonymous institutions, no money can be withdrawn from it. However, the loan can be opened subject to the deposit of 100% cash from own sources.
Last Sunday, Bangladesh Financial Intelligence Unit-BFIU summoned all the bank account information of Mohammad Saiful Alam or S Alam, the leader of S Alam Group and his seven brothers. Saiful Alam Masood’s National Identity Card Number- 5962467949. And was born on January 12, 1960. In 2022, S Alam and his family gave up their citizenship and accepted foreign passports. His father Mozaherul Anwar and mother Chemon Ara Begum. S Alam’s wife Farzana Parveen, two sons Ahsanul Alam and Ashraful Alam (2415452652) took foreign citizenship.
The account details of Saiful Alam Masood and his brothers Mohammad Abdullah Hasan, Osman Gani, Abdus Samad, Rashedul Alam, Sahidul Alam and Morshedul Alam have been subpoenaed.
In addition, some account information has been subpoenaed. They are Hamidur Rahman’s son Miskat Ahmed, Abul Kashem’s daughter Farzana Begum and Ferdousul Kabir’s daughter Shahana Ferdous in the list of account information subpoena. They are said to belong to the S Alam family.