Attachment of acquisitive S. Alam Group's assets is likely as the Bangladesh Bank governor urges people not to purchase any of its properties destined for sale to refund bank depositors.
Dr Ahsan H. Mansur also spoke about an overhaul in the country's problem-ridden banking sector ahead, in tune with the interim government's all-encompassing reform recipe.
The central bank's new governor also assured that there wouldn't be dollar dearth for essential purchases.
Governor Dr Mansur made the call against the embroiled conglomerate's asset buy at a press briefing Wednesday at the BB headquarters when his attention was drawn to a move by a vested quarter to sell their movable and immovable properties, not mortgaged to any bank, in various parts of the country to avert any further regulatory action.
He said they would request the government to officially take action to this effect but it should be done through a legal process.
"Anyone who buys S Alam's assets may face legal challenges. We urge everyone not to buy those, which will be used to compensate the depositors' money with the banks earlier controlled by the group," he said.
Terming S Alam Group owner Saiful Alam the biggest "systematical bank looter", Mr. Mansur said he had no idea if there is anyone in the world who plundered bank credits in such a planned way.
He was calling upon the depositors with the banks earlier controlled by the Chattogram-based controversial business conglomerate not to go to the bank counters all together to withdraw their deposits.
If all the depositors go to the bank to get back their money simultaneously, no bank in the world will be able to deliver their needs, says the former IMF executive.
"Please be patient, don't get panicked. You will get back your money. Give us some time. You should go to the bank to withdraw the amount of money that you need to meet your urgency," the governor says in a word of advice for the depositors.
Regarding the reforms in the banking sector that has been passing through multipronged strains like NPL (non-performing loan) buildup, the governor said the reforms in the commercial banks and regulatory body would be done through the planned banking commission or taskforce.
"It is not like other commission. BB will be actively engaged in the commission. The exact modus operandi of the commission has not been finalised yet. But we will also take opinions of experts from home and abroad for such commission which could be formed within a month," he told the reporters.
About the activities of the members of the new board of Islami Bank, he said the bank's new board had been ordered to submit a work plan within a week.
"They have to start working. The central bank will provide all sorts of assistance in this regard. If they are not cooperative, the board will be changed again. Everyone is being monitored. No one will be spared if irregularities are found."
Asked about actions against other loan-defaulter corporate houses apart from S Alam Group, he said they have started inquiring about them before taking regulatory action.
Responding to a question over influence of the Financial Institutions Division (FID) of the finance ministry in state-owned commercial banks alongside the banking regulator, the BB governor said the Awami League government first constituted such division, which was later abolished by the BNP-led government.
Unfortunately, he said, the AL again resumed its activities to control the public banks. "I think the responsibility of regulating the state banks should be given to one agency. The interim government may consider abolishing the division again," the central bank governor added.
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