Bangladesh Bank targets S Alam Group executives for banking crimes, plans to raise funds by selling shares.

The Bangladesh Bank will take legal action against individuals in S Alam Group for banking sector crimes but won't shut the company down. Islami Bank plans to raise Tk10,000 crore by selling S Alam Group's shares and attracting foreign investors to close a Tk20,000 crore gap. The central bank aims to protect national assets like S Alam Group and Beximco while focusing on individual accountability.

November 18, 2024
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