s alam group
Govt, S Alam to team up to build second oil refinery
The state-owned Eastern Refinery (ERL) is likely to build its long-planned second unit in partnership with Chattogram-based conglomerate S Alam Group after previous attempts to expand the country’s oil refining capacity fell through because of a lack of financing.
S Alam's offshore wealth / SC voids HC suo moto rule
The Appellate Division of the Supreme Court today discharged the High Court Division’s suo moto rule that had ordered an investigation into S Alam Group’s wealth abroad
Probing S Alam's 'properties abroad' / SC orders status quo till Jan 8
The Supreme Court chamber judge today put on hold until next year the inquiry into S Alam Group owner Mohammed Saiful Alam’s "assets abroad".
Probe into offshore business: S Alam Group seeks stay on HC order
A petition has been filed with the Appellate Division of the Supreme Court seeking stay on a High Court order that asked the authorities concerned to probe allegations against the owner of S Alam Group of amassing huge amounts of properties abroad without Bangladesh Bank's permission
Probe into offshore businesses / S Alam seeks to become party to HC order
S Alam Group on Monday submitted two petitions, one seeking to be made a party to a probe ordered by the High Court, and the other seeking a retraction of the probe and a gag order on media
S Alam’s ‘Assets Abroad’: HC declines to recall its probe order
The High Court yesterday declined to entertain a verbal appeal for recalling its August 6 order that had asked government authorities to probe the allegations that S Alam Group owner Mohammed Saiful Alam is running offshore businesses without Bangladesh Bank’s permission.
S Alam’s ‘properties abroad’: HC declines to recall its probe order
The HC order came after The Daily Star published an investigative report on August 4 on S Alam's business empire worth at least about $1 billion in Singapore
S Alam serves legal notice on govt, four newspapers
A legal notice was served on the government, four editors of national newspapers, including The Daily Star, and seven journalists of the dailies on Thursday for reports the dailies published on Mohammad Saiful Alam and S Alam Group.
S ALAM’S ALADDIN’S LAMP / S Alam Group’s rejoinder, our reply
Below is the full unedited text of the rejoinder, dated August 7, 2023, along with our response
HC orders probe into S Alam's 'properties abroad'
Move comes following report published on The Daily Star under the headline 'S Alam's Aladdin's Lamp'
S Alam's Aladdin's lamp
No official record of a single taka taken out of country, yet he and his wife obtain citizenship of Cyprus through investment, go on property-buying spree in Singapore
The ‘mega serial’ of bank scams
By investing only Tk 400 crore to establish a bank, the bank owners are able to control the deposits of thousands of crores of taka, decide where to invest it, and who to lend it to.
BB sends observers to Islami Bank, FSIBL
Bangladesh Bank yesterday re-appointed an observer at Islami Bank and dispatched an observer for the first time at First Security Islami Bank (FSIBL) -- the two Shariah-based lenders where Chattogram-based business giant S Alam Group has significant stakes.
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Hold the elite to account
Investigation into financial irregularities the first step forward
The rise and fall of Islami Bank
There are rumours in the market that a highly politically powerful business group is going to take over the ownership of the bank from S Alam Group.
Islami Bank’s loan scams were not unknown to policymakers
Information about S Alam Group has bought a bank with money from another lender and taken controlling stakes in other banks is surfacing now, but people in the banking sector and involved in economic policy-making knew about the developments, said Ahsan H Mansur, executive director of the Policy Research Institute of Bangladesh.
Probe S Alam Group assets
Prime Minister Sheikh Hasina has called for an investigation into the affairs of S Alam Group, which has been in the public discourse in recent times for its alleged excessive borrowing from the banking system in violation of rules.
S Alam Group: 'Govt looking into fund sources'
The government has been looking into the sources of money of S Alam Group across the country, Finance Minister AMA Muhith said yesterday.
