Islami Bank set to be freed from S Alam, board to be dissolved: BB

Bangladesh Bank has decided to dissolve the board of Islami Bank Bangladesh, governor Ahsan H Mansur has said.

The Bangladesh Bank governor at a press conference on Wednesday also said the board of all weak banks will be dissolved.

He said currently independent directors will be appointed to the Islami Bank as S Alam Group owns the major share of the bank.

Ahsan H Mansur said those who didn't pay loans will not be spared. All the legal ways will be applied to recover the loans, he added.

When asked about the amount of loans to S Alam Group, the governor said, "We don't have information of anonymous loans. However, information will be disclosed. It requires some time."

S Alam Group took control of Islami Bank in 2017. An analysis of the documents received by Prothom Alo revealed that a Tk 141.67 billion loan was taken from the Islami Bank by institutions with S Alam’s name.