Arrest of S Alam, recovery of siphoned funds demanded

FE REPORT | Published: April 19, 2026 22:44:52

Islami Bank Customers' Coordination Council organised a human-chain in front of Islami Bank Tower in the capital's Motijheel commercial hub on Sunday, protesting the 'conspiracy to destroy the bank and other financial institutions'. — Focus Bangla

A group of people claiming themselves as customers of Islami Bank Bangladesh PLC on Sunday demanded immediate arrest of controversial businessman S Alam and the recovery of funds allegedly siphoned off abroad.
They also called for amendments to a clause in the proposed "Bank Resolution Act", expressing concern that it could undermine accountability in the banking sector.
The demands were made at a rally organised by the "Islami Bank Bangladesh PLC Customers Coordination Council" in front of the bank's headquarters in Motijheel, Dhaka. The council's president, NurunNabi, presided over the programme.
Addressing the rally, Mr Nabi urged the government to scrap Section 18/Ka of the bank resolution act, claiming it could allow controversial stakeholders to regain influence in banks.
He warned that any attempt by associates of S Alam to create unrest or gather crowds at the bank premises could lead to an "unwanted situation".
Earlier in the day, dismissed employees of six Shariah-based banks formed a human chain at the same venue, demanding reinstatement of their jobs.
talhabinhabib@yahoo.com