Shareholders in Bangladesh urge SEC to freeze shares and call for bank board dissolution, alleging governance issues and potential corruption.
Bangladeshi shareholders have urged the Securities and Exchange Commission to freeze 82% of Islami Bank shares held by S Alam Group, alleging control was gained through influence and illegal methods. In a separate case, shareholders of Social Islami Bank have called for the bank's board dissolution, accusing it of being involved in money laundering and corruption. Both cases highlight concerns surrounding corporate governance and potential banking corruption in Bangladesh.
August 18, 2024
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