Debate Grows Over Claims of Returning Banks to S Alam Group

A recent social media post has triggered fresh debate and discussion over Bangladesh’s banking sector. Asif Mahmud Sajib Bhuiyan, a former adviser to the interim government and a leader of the National Citizen Party (NCP), claimed that there is an ongoing process to return four banks to the widely discussed business conglomerate S Alam Group.

In a post shared on his verified Facebook account on Sunday (April 12), he raised a pointed question, suggesting that S Alam Group—allegedly linked to around 35,000 crore taka in loans—might be regaining control of four banks. His remarks quickly went viral, sparking intense reactions and debate across social media platforms.

However, no official statement has been issued by the government or any relevant authority regarding the claim. As a result, the issue remains largely within the realm of public discussion and political speculation rather than confirmed fact.

Economic analysts note that the role of large loan defaulters has long been a major concern in Bangladesh’s banking sector. S Alam Group is frequently mentioned among top defaulters. Recent data presented in parliament indicated that several companies linked to the group are among the top 20 loan defaulters in the country, with total outstanding loans exceeding 35,000 crore taka.

Experts emphasize that ensuring transparency and accountability in the banking sector requires clear policies and strict oversight of major defaulters. Without this, such claims and controversies could further erode public confidence.

Founded in 1985 by Mohammad Saiful Alam in Chattogram, S Alam Group has grown into one of the country’s largest business conglomerates. However, it has also been associated with various financial and banking-related controversies over the years.

In the current situation, analysts believe it is crucial to verify the accuracy of the claims circulating on social media and to hear a clear stance from the relevant authorities. The banking sector is a key pillar of the national economy, and any uncertainty surrounding it can directly affect investment and economic stability.

Overall, what began as a single Facebook post has now evolved into a broader national conversation. The public and the economic community are awaiting official clarification to understand whether there is any basis to the claims and what policy decisions, if any, may be involved.

Source: Dhaka Times