BB governor urges all not to purchase S Alam assets

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur Wednesday urged all not to purchase any assets or properties owned by controversial S Alam Group.

"This may hamper the central bank's investigations of the controversial conglomerate's transactions. We want to use this resource to protect depositors. Legal action will be taken soon in this regard," he said.

The governor said this while speaking to reporters after a meeting at the central bank headquarters in the city, reports BSS.

There is an allegation that S Alam Group is selling lands giving power of attorney to others.

Earlier, the central bank instructed six S Alam-owned banks to stop any money going out of the accounts in the name of the Chattogram-based business giant, its associates' companies and related persons.

Islami Bank, First Security Islami Bank (FSIBL), Social Islami Bank (SIBL), Union Bank, Global Islami Bank (GIB) and Bangladesh Commerce Bank (BCB) have already passed on the BB instruction to their branches and sub-branches.