Bizdata Insights Main Logo
0

BizData Insights

86% of Global Islami Bank Loans Taken by S Alam Group

Total Views: 0
Industry: Bank, Financial
Company: Global Islami Bank Limited (GIBL), S. Alam Group of Industries
Company Intelligence Tag: Business Insights

S Alam Group and its affiliates account for over 86% of the disbursed loans of Global Islami Bank (GIB), totaling Tk 13,880 crore as of June 2023. The loans, taken between 2013 and 2018 through over 50 trading companies linked to S Alam Group, were primarily distributed from the bank’s Chattogram branches. Despite no new loans being issued since 2018, the previous loans’ tenure has been extended. Officially, GIB’s defaulted loans stand at Tk 327.12 crore, though the actual bad loan amount is believed to be higher. An independent audit is expected to reveal more details.

Source for more details:

The Daily Star

Related News

Padma Bank Requests Tk 1,300 Crore Bailout

December 21, 2024

Padma Bank, facing severe financial difficulties, has requested Tk 1,300 crore in liquidity support from Bangladesh Bank to repay depositors. The bank's CEO, Kazi Md Talha, stated that the application for support was made last week, but no response has been received yet.

ACC to Probe Salman F Rahman and Ex-IFIC Bank MD for Loan Fraud

December 21, 2024

The Anti-Corruption Commission (ACC) is investigating Salman F Rahman, former adviser to the PM, and Shah Alam Sarwar, former MD of IFIC Bank, for their involvement in a loan scam totaling Tk 19.07 billion. Allegations include abuse of power, irregularities, and loan disbursements without proper competition, with funds misused for five companies.

Bangladesh Aims to Renegotiate Power Deal with Adani

December 21, 2024

Bangladesh's interim government accuses Adani Power of breaching a 2017 power deal by withholding tax benefits from its Godda plant, which supplies energy to Bangladesh at significantly higher costs than similar deals.

Islamic Banking Sector’s Deposits Dropped by 1.94%

December 21, 2024
The overall Islamic banking sector’s deposits dropped by 1.94% to Tk 436,667 crore by September, down from Tk 445,309 crore in June, reducing its market share to 25.08% from 25.56%. This shift reflects growing depositor preference for Islamic banking services at conventional banks amid concerns over irregularities and financial instability at fully Shariah-based institutions.

Trust Bank to Invest Tk 312.5 Million in MFS Expansion

December 21, 2024
Trust Bank plans to expand its mobile financial service (MFS), Trust Axiata Pay (TAP), to capture a larger market share, according to a stock exchange filing. Despite TAP's small market share, the bank aims to grow its customer base nationwide.

Cash Outside Banks Falls to Tk 2.778 Trillion

December 21, 2024

Currency is flowing back into banks as rising deposit rates and improved confidence in well-performing institutions reverse a five-month cash outflow trend. Bangladesh Bank data shows currency outside the banking system fell by Tk 57.43 billion to Tk 2.778 trillion in October 2024.

Related News

Padma Bank Requests Tk 1,300 Crore Bailout

December 21, 2024

Padma Bank, facing severe financial difficulties, has requested Tk 1,300 crore in liquidity support from Bangladesh Bank to repay depositors. The bank's CEO, Kazi Md Talha, stated that the application for support was made last week, but no response has been received yet.

ACC to Probe Salman F Rahman and Ex-IFIC Bank MD for Loan Fraud

December 21, 2024

The Anti-Corruption Commission (ACC) is investigating Salman F Rahman, former adviser to the PM, and Shah Alam Sarwar, former MD of IFIC Bank, for their involvement in a loan scam totaling Tk 19.07 billion. Allegations include abuse of power, irregularities, and loan disbursements without proper competition, with funds misused for five companies.

Bangladesh Aims to Renegotiate Power Deal with Adani

December 21, 2024

Bangladesh's interim government accuses Adani Power of breaching a 2017 power deal by withholding tax benefits from its Godda plant, which supplies energy to Bangladesh at significantly higher costs than similar deals.

Islamic Banking Sector’s Deposits Dropped by 1.94%

December 21, 2024
The overall Islamic banking sector’s deposits dropped by 1.94% to Tk 436,667 crore by September, down from Tk 445,309 crore in June, reducing its market share to 25.08% from 25.56%. This shift reflects growing depositor preference for Islamic banking services at conventional banks amid concerns over irregularities and financial instability at fully Shariah-based institutions.

Trust Bank to Invest Tk 312.5 Million in MFS Expansion

December 21, 2024
Trust Bank plans to expand its mobile financial service (MFS), Trust Axiata Pay (TAP), to capture a larger market share, according to a stock exchange filing. Despite TAP's small market share, the bank aims to grow its customer base nationwide.

Cash Outside Banks Falls to Tk 2.778 Trillion

December 21, 2024

Currency is flowing back into banks as rising deposit rates and improved confidence in well-performing institutions reverse a five-month cash outflow trend. Bangladesh Bank data shows currency outside the banking system fell by Tk 57.43 billion to Tk 2.778 trillion in October 2024.

BIZDATAINSIGHTS

Bizdata Insights is a Market Insights, Data Intelligence and Business Advisory Platform

Terms & Conditions

Privacy Policy

Refund Policy

Cancellation Policy

Our Solutions

Menu

Newsletter

Sign up for our newsletter now by entering your e-mail address and never miss out on the latest news and updates from our team!
Facebook Linkedin Youtube Envelope
BIZDATA INSIGHTS Ltd. © 2024 All Rights Reserved
Type to search

BUSINESSMONITOR

Connect with


Lost Your Password?

Dont Have Account? Please register Here

Back