BSEC bans to sell, transfer shares of S Alam family members

The Bangladesh Securities and Exchange Commission (BSEC) has imposed a restriction on the transfer and sale of the shares of six banks - all owned by S Alam - by Mohammed Saiful Alam and 25 of his family members. 

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

The restriction also applies to 56 companies under the S Alam group, the BSEC said in a notification under the guideline of Bangladesh Bank.