Bangladesh Bank has decided to dissolve the board of three more private banks of the country. It is said that such a decision has been taken to protect Bank Khat S Alam from looters.

Banks are United Commercial Bank, Union Bank and Global Islami Bank. Among them, Union and Global Islami Bank are controlled by the controversial industrial group S Alam. And UCBL is under the control of former land minister Saifuzzaman Chowdhury Jabed’s family.

Sources in the central bank said the two banks controlled by S Alam may have boards with five to seven independent directors. And there is a possibility of having a representative director of Pertex Group on the board of UCB Bank.

In 2017, former land minister Saifuzzaman Chowdhury Jabed’s family removed all members of Pertex Group from the board of UCB. Now, in the changed situation, shareholders and officials at various levels have announced that they will not be allowed to enter the bank.

It is reported that the MA Hashem family of Pertex Group, one of the founders of UCB, is trying to get back the ownership. For this, a letter was given to the Governor of Bangladesh Bank and BSEC Chairman on Wednesday in the name of some shareholders. The letter highlighted the financial distress of the bank and demanded an immediate change in ownership.

Earlier on Thursday (August 22), Bangladesh Bank dissolved the board of directors of the private Islami Bank owned by S Alam Group.

Bangladesh Bank said that the new board has been appointed under section 45 of the Bank-Company Act, 1991 to protect the interests of depositors and banks and to ensure good banking governance and public interest.

After Islami Bank, S Alam Group has lost control of Social Islami Bank. Because Bangladesh Bank dissolved the board of directors of Social Islami Bank last Sunday. The private bank was heavily dominated by S Alam Group.

Recently, Bangladesh Bank Governor Ahsan H Mansoor said that the board of all the banks owned by S Alam will be dissolved gradually.