SIBL Chairman and AMD resigned

Loan scam aftermath

31 January 2023
 SIBL Chairman and AMD resigned

UNB  :
The chairman and an additional managing director (AMD) of private Social Islami Bank Limited (SIBL) have resigned after the unearthing of the much publicised loan scam inside the bank, sources said.
A source of this bank confirmed on Monday that, both the officials of the bank resigned without citing specific reasons. But SIBL officially is remaining silent on these issues.
Chairman Mahbub-ul-Alam was the nominated director of Hasan Abasan Limited of Chittagong, a sister concern of S Alam Group of Chattogram, which sits on the board of SIBL alongside other S Alam Group companies.
Mahbub-ul-Alam was earlier the MD of Islami Bank Bangladesh. Additional managing director Abu Reza Mohammad Yahya was Deputy Managing Director (DMD) at Islami Bank before joining SIBL.
He has not been going to the office since last Sunday after submitting his resignation letter. And Mahbub-ul-Alam is reported to have submitted his resignation letter and left the country. The mobile phones of both were found switched off.
Sources of SIBL have confirmed the resignations, asking not to be named. Managing director of the bank, Zafar Alam, could not be reached by phone.

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