BB governor urges public not to buy S Alam Group assets

Bangladesh Bank Governor Ahsan H Mansur urged the public on Wednesday not to buy any assets of the Chattogram-based S Alam Group, accusing the industrial conglomerate of bank fraud through various irregularities. 

"We want to use S Alam’s resources to protect depositors. Legal action will be taken soon," the governor stated during a press conference at the central bank's office. Senior officials of Bangladesh Bank were also present.

There have been allegations that individuals with power of attorney over S Alam Group's assets are attempting to sell them off. Addressing this issue, the governor appealed to the public, saying, "We urge everyone not to purchase their assets. We intend to sell these assets through legal channels and use the proceeds to safeguard depositors. We will inform the government accordingly."