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Morningsun Online //

Bangladesh Bank has banned the transfer of shares of 82 individuals and organizations of S Alam Group, which is discussed in the financial sector of the country. Among them, S Alam and his family are 26 individuals and 56 institutions.

The ban was given in a letter sent to the Bangladesh Securities and Exchange Commission (BSEC) on Tuesday. Earlier on Monday, six banks of S Alam Group were banned from disbursing loans.

According to Tuesday’s letter, the directors and representatives of Islami Bank Bangladesh, First Security Islami Bank, Social Islami Bank, Global Islami Bank, Union Bank and Bangladesh Commerce Bank all belong to Chittagong-based S Alam Group. The associated institutions of this group have taken huge loans from various banks in violation of the law. At present, the financial condition of these banks is gradually deteriorating. As the board members of the banks are from the same group, considering the current situation, there is a danger of complications in their debt recovery. Bangladesh Bank will take necessary measures as per law. But it is requested to take necessary measures so that the directors of the banks and their families cannot buy, sell or transfer shares without the permission of Bangladesh Bank.

Among those who have been banned from transfer of shares are Mohammad Saiful Alam (S Alam), wife Farzana Parveen, son Ahsanul Alam, daughter Maymuna Khatun. Also present are family members Atiqur Nessa, Sharmin Fatema, Marzina Sharmin, Farzana Begum, Shahana Ferdous, Rahima Begum, Mohammad Abdul Malek, Ashraful Mostafa Chowdhury, Mohammad Abdullah Hasan, Jamal Mostafa Chowdhury, Belal Ahmed, Mahmudul Alam, Ashraful Alam, Badrun Nessa Alam. , Wahidul Alam Seth, Rokoye Yasmin, Shahidul Alam, Halima Begum, Rashedul Alam, Mohammad Mostan Billah Adil, Osman Gani and Shahidul Alam.

The companies whose shares have been banned are ABC Ventures Limited, Armada Spinning, Bangladesh Petrochemical, BLU International, Brilliant Business Company, Broadway Impax Company, C&A Accessories, C&A Fabrics, Carolina Business Enterprises, Dynamic Ventures Limited, Excel Dyeing & Printing, Excelsior Impex Company, Fatehabad Farm, Genesis Textile Accessories & Apparels, Grand Business Limited, Hasan Abasan Pvt. Ltd., Highclass Business Enterprises, Holistic International, Honeywell Securities Corporation, Ideal Flower Mills, JMC Builders, Karnaphuli Foods, Karnaphuli Natural Gas, Kingston Flour Mills, Kings Way Endeavors Ltd., Leader Business Enterprises, Lion Securities, Lionhead Business Resources, Marathon Trade International , Milkyway Impax Limited, Modern Properties, Naushin Steel, Ocean Resort, Padma Export Import Trading, Paradise International, Peaks Business Enterprises, Percepta Endeavors Limited, Platinum Endeavors Limited, Portman Cement Limited, Prasad Paradise Resort, Pusthi Vegetable Ghee, Reliable Enterprises, Shah Amanat Natural Gas, Solid Wake Insurance, Sonali Corp Logistics, Uniglobe Business Resources, Unique Investment Securities, Unitex Cement, Unitex Steel Mills, Unitex Tree Limited, Vibrand Antiverse, Vector Trade & Business, Wesco Limited and Western Designer Limited.