6 S Alam-controlled banks not now able to give loans

Six banks under the control of the S Alam Group will now not be able to give loans.

The banks are: Islami Bank Bangladesh, First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank and Bangladesh Commerce Bank.

Bangladesh Bank (BB) has imposed restrictions on giving loans and prohibited opening Letter of Credits (LCs) for import in the six banks.

Md Mezbaul Haque, spokesperson of the central bank, confirmed the matter on Monday.