Finance Minister Amir Khosru Mahmud Chowdhury today, Sunday, disclosed the names of the top loan defaulters in the banking sector before the Jatiya Sangsad (national parliament). However, the amounts of their outstanding loans and the identities of the company owners were not included in the initial announcement.
Responding to a written question from Abul Hasnat (Hasnat Abdullah), an MP of the National Citizen Party (NCP), the Finance Minister presented this information, alongside the list of the top 20 defaulting institutions.
The Finance Minister informed Parliament that as of 31 December 2025, the total outstanding loans in the banking sector stood at Tk 5,44,831.88 crore. Loans owed by incumbent MPs and their associated institutions to banks and finance companies amounted to Tk 11,117.31 crore. In compliance with court directives, Tk 3,330.08 crore were not classified as non-performing.
The list was tabled at the question-and-answer session presided over by Deputy Speaker Kayser Kamal.
Hasnat Abdullah had inquired about the current total of genuinely non-performing bank loans, the top 20 defaulters, government measures for loan recovery, and the outstanding loans of Parliament members.
Let us take a look at the ownership of the top 20 defaulting companies.
11 belong to the S. Alam Group
According to the Finance Minister’s submission, 11 of the top 20 defaulting companies are controlled by the Chattogram-based S. Alam Group.
Its proprietor, Mohammad Saiful Alam (S Alam), during the previous Awami League government, acquired control of Islami Bank and Social Islami Bank, as well as five other banks. Collectively, he withdrew over Tk 200,000 crore from these banks.
The top five defaulters are all S Alam Group companies: S Alam Super Edible Oil Ltd., S Alam Vegetable Oil Ltd., S Alam Refined Sugar Industries Ltd., S Alam Cold Rolled Steels Ltd., and Sonali Traders.
Additional S. Alam Group companies appear in positions 7 to 10 and 16–17. Those are: Global Trading Corporation Ltd., Chemon Ispat Ltd., and S Alam Trading Company Pvt. Ltd., Infinite CR Strips Industries Ltd. (owned by S Alam’s son, Ahsanul Alam, who served as Chairman of Islami Bank until the fall of Sheikh Hasina’s government).
The 16th and 17th companies are: Karnaphuli Foods (Pvt.) Ltd. and Murad Enterprise.
Other notable owners include Salman F Rahman and former MPs
Salman F Rahman, former Prime Minister Sheikh Hasina’s adviser, owns Bangladesh Export Import Company Ltd. (6th position) and Beximco Communications Ltd. (Akash DTH) (19th position).
He is vice-chairman of the group; his elder brother, Sohel F Rahman, serves as Chairman.
Abdul Khalek Pathan owns Keya Cosmetics Ltd. (11th position) and Golam Mostofa owns Deshbandhu Sugar Mills Ltd. (12th position).
Sikder Group owns Power Pack Mutiara Keraniganj Power Plant Ltd. and Power Pack Mutiara Jamalpur Power Plant Ltd. (13th and 14th positions), under the control of Ron Haque Sikder and Rik Haque Sikder, sons of the late Zainul Haque Sikder
Pacific Bangladesh Telecom Ltd. (Citycell), ranked 15th, is owned by a former Foreign Minister during a previous BNP government, Morshed Khan.
Next in the list is CLC Power Company, owned by Awami League’s former MP Aslamul Haque. Rangdhanu Builders (Pvt.) Ltd., ranked 20th, is controlled by Rafiqul Islam, former chairman of Kayetpara Union, Rupganj, Narayanganj, and proprietor of Rangdhanu Group.
Some of the loan defaulters are in jail while some are absconding.
Loan recovery and affected banks
Most of the loans of these top 20 defaulters were obtained from Islami Bank and the five integrated banks. Other institutions affected include state-owned Janata Bank and Agrani Bank, as well as private sector banks such as National Bank, IFIC Bank, AB Bank, Pubali Bank, and Southeast Bank.
Due to high defaults and inability to recover these loans, a consolidated Islami Bank is being formed, integrating five banks: First Security Islami, Global Islami, Union, Exim, and Social Islami Banks.