S.Alam Group is a

Bangladesh Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mos ...

i industrial

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...

. S. Alam Group also has investment in banking, leasing, insurance, stock brokering, and merchant banking. The industries under this group include food and allied products, steel, banking, consumer products, sugar, cement, power, energy, transportation, shipping, manufacturing, hospitality, financial institution, agro, trading, oil, and gas.

History

In April 2009, S. Alam purchased Oman Bangladesh Leasing and Finance Limited. Md Saiful Alam Masud, chairman of S. Alam Group and First Security Islami Bank Limited, was appointed chairman of Oman Bangladesh Leasing and Finance Limited. S. Alam Group signed an agreement with

SEPCO3 SEPCO3 (Shandong Electric Power Construction Corporation III or SEPCO III) (simplified Chinese: 山东电力建设第三工程公司) is a Chinese construction and engineering company that designs, builds, operates and owns power plants. SEPCO3 ...

to construct a powerplant in Chittagong in 2013. The

Banshkhali power plant movement The Banshkhali power plant movement was a 2016 protest movement against a Bangladeshi-Chinese consortium's acquisition of agricultural lands, graveyards and homes to build a coal-based power plant in the Banshkhali Upazila of Chittagong, Bangladesh ...

was launched to stop the construction of the Powe plant. Environmentalists have opposed the construction of the plant on environmental grounds. On 5 January 2015, Ekushey Television abruptly halted transmissions without any notice in most areas around Bangladesh after airing a speech by the senior vice chairman of the

Bangladesh Nationalist Party The Bangladesh Nationalist Party ( bn, বাংলাদেশ জাতীয়তাবাদী দল, Bangladesh Jātīyotābādī Dol; BNP) is a centre-right to right-wing nationalist, political party in Bangladesh and one of the major ...

Tarique Rahman Tarique Rahman is a Bangladeshi politician who is the current acting chairman of Bangladesh Nationalist Party (BNP) since February 2018. He has been residing in London with his family since he left Bangladesh in September 2008. Early life and ...

. A sedition case was also filed as Rahman's speech was said to be "false, fabricated and instigating". The chairman of Ekushey, Abdus Salam, was subsequently arrested in a case filed under the Pornography Act of 2012, as the network allegedly aired a false report on a girl in one of their programs, ''Ekusher Chokh''. Later, the channel resumed broadcasting in some areas, and resumed nationwide broadcasts over time. On 25 November 2015, a media release issued by Ekushey Television stated that S. Alam Group of Industries had acquired Ekushey, in an auction on 8 October. S. Alam Group bought 50 per cent of the shares of Social Islami Bank Limited through 19 subsidiaries violating the Banking Company Act, 1991 in the process in 2017 achieving a hostile takeover. The same year the company took over

Islami Bank Bangladesh Ltd Islami Bank Bangladesh Ltd. (IBBL) ( bn, ইসলামী ব্যাংক বাংলাদেশ লিমিটেড) is an Islamic banking company based in Bangladesh. It became incorporated on 13 March 1983 as a public limited company u ...

and appointed Arastoo Khan chairman. The takeover of Islami Bank started in 2013 and was supported by the

Awami League In Urdu language, Awami is the adjectival form for '' Awam'', the Urdu language word for common people. The adjective appears in the following proper names: *Awami Colony, a neighbourhood of Landhi Town in Karachi, Sindh, Pakistan *Awami Front, wa ...

government as it was linked with the

Bangladesh Jamaat-e-Islami Bangladesh Jamaat-e-Islami ( bn, বাংলাদেশ জামায়াতে ইসলামী, Bānglādēsh Jāmāyatē Islāmī, Bangladesh Islamic Assembly), previously known as Jamaat-e-Islami Bangladesh, or Jamaat for short, was ...

. According to

New Age New Age is a range of spiritual or religious practices and beliefs which rapidly grew in Western society during the early 1970s. Its highly eclectic and unsystematic structure makes a precise definition difficult. Although many scholars conside ...

, S. Alam Group had taken 300 billion taka loans from Islami Bank Bangladesh Ltd which was denied by the bank. The Minister of Finance,

Abul Maal Abdul Muhith Abul Maal Abdul Muhith (25 January 1934 – 30 April 2022) was a Bangladeshi economist, writer, civil servant, secretary, diplomat and politician. He served as the Finance Minister of the government of Bangladesh from January 2009 until January ...

, announced an investigation of loans of the group. He believed the group was using loans from other banks for the takeover. According to Ahsan H Mansur, director of Policy Research Institute of Bangladesh, the group has taken 800 billion taka loans from various banks through its subsidiaries. The group has made significant investments in Singapore. It purchased 20 ships from

Western Marine Shipyard Western Marine Shipyard Limited is a public listed shipbuilding company based in Chattogram, Bangladesh. The shipyard has constructed various types of vessels till date, including ocean going multi purpose cargo vessels, passenger vessels & b ...

for 2.5 billion taka. In October 2018, S. Alam group purchased 45 per cent of the shares of

Padma Islami Life Insurance Company The Padma ( bn, পদ্মা ''Pôdma'') is a major river in Bangladesh. It is the main distributary of the Ganges, flowing generally southeast for to its confluence with the Meghna River near the Bay of Bengal. The city of Rajshahi is sit ...

. On April 17, 2021, five workers at Banshkhali power plant were killed by police firing bullets at protesting workers demanding payment of dues and breaks for prayer and iftar during

Ramadan , type = islam , longtype = Religious , image = Ramadan montage.jpg , caption=From top, left to right: A crescent moon over Sarıçam, Turkey, marking the beginning of the Islamic month of Ramadan. Ramadan Quran reading in Bandar Torkaman, Iran. ...

. Their ages ranged from 18 to 25. More than 20 other workers were also injured. The company filed a case against a local engineer under the

Digital Security Act The Digital Security Act, 2018 is a digital security law in Bangladesh. This act was passed with the aim of preventing the spread of racism; sectarianism; extremism; terrorist propaganda; and hatred against religious or ethnic minorities through soc ...

. Bangladesh High Court ordered S. Alam Group to pay 500 thousand taka to each of those workers killed in the police action. The company launched a satellite television channel, Nexus Television, in July 2021. Directorate of Consumers' Rights Protection had found S. Alam stopped production of edible oil during shortages hiking up price of oil in the market. In December 2022, Prime Minister

Sheikh Hasina Sheikh Hasina Wazed (''née'' Sheikh Hasina ; ; bn, শেখ হাসিনা ওয়াজেদ, Shēkh Hasinā, , born 28 September 1947) is a Bangladeshi politician who has served as the Prime Minister of Bangladesh, Prime Minister ...

called for an investigation into S. Alam Group according to The Daily Star. The Prime Minister's Office denied the prime minister issued the order. Justices

Md Nazrul Islam Talukder Md. Nazrul Islam Talukder is a judge of the High Court Division of Bangladesh Supreme Court. He is a member of Bangladesh Judicial Service Commission. Early life Talukder was born on 1 December 1964. He has a bachelors and masters in law. Care ...

and Khizir Hayat of the

High Court Division The High Court Division, Supreme Court of Bangladesh ( bn, হাইকোর্ট ডিভিশন) popularly known as the 'High Court' is one of the two divisions of the Supreme Court of Bangladesh, the other division being the Appellate D ...

ordered an investigation into the S. Alam Group owned banks of Social Islami Bank Limited, First Security Islami Bank, and Islami Bank Bangladesh Ltd. Bangladesh Bank provided additional funding to five S. Alam Group owned banks, First Security Islami Bank,

Global Islami Bank Global Islami Bank, former known as NRB Global Bank, is a fourth generation Bangladeshi sharia compliant private bank. Nizam Chowdhury is the chairperson of the Bank. Syed Habib Hasnat is the Managing Director of Global Islami Bank. History T ...

, Islami Bank Bangladesh, Social Islami Bank, and Union Bank. In 2022, it was one of five Bangladeshi groups that imported more than one billion dollar worth of raw materials; the others were

Abul Khair Group Abul Khair Group () is a Bangladeshi diversified conglomerate based in Dhaka. Abul Kashem is the chairperson and Abul Hashem is the managing director of Abul Khair Group. Abu Syed Chowdhury is the deputy managing director and Shah Shafiqul Isla ...

Bashundhara Group Bashundhara Group ( bn, বসুন্ধরা গ্রুপ) is a Bangladeshi conglomerate. It is one of the largest manufacturing companies in Bangladesh. It was incorporated in 1987 as a real estate company venture under the name East West ...

BSRM The Bangladesh Steel Re-Rolling Mills Ltd., commonly known as BSRM, is a Bangladeshi steel manufacturing company based in Chittagong. It is the largest construction steel manufacturer company in Bangladesh. History In 1952, five Indian business ...

, and

Meghna Group of Industries Meghna Group of Industries (MGI) is one of the largest Bangladeshi industrial conglomerates. The industries under this conglomerate include chemicals, cement, consumer products, real estate, insurance, securities, utilities etc. Business verti ...

. In January 2023, S. Alam Group owned Islami Bank Bangladesh Ltd received 80 billion taka in emergency funds from Bangladesh Bank.

Companies of S.Alam Group

Food and allied products

* S. Alam Soya Seed Extraction Plant Ltd. * S. Alam Vegetable Oil Limited. * S. Alam Super Edible Oil Limited. * S. Alam Refined Sugar Industries Ltd. * S. Alam Refined Sugar Industries Ltd. (Unit-2) * S. Alam Tank Terminal Ltd.

Cement

* S. Alam Cement Ltd. * Portland Cements Ltd.

Steel

* S. Alam Steels Ltd. * S. Alam Cold Rolled Steels Ltd. * S. Alam Cold Rolled Steels Ltd. (Unit-2) * Galco Steels (BD) Ltd. * Galco Steels (BD) Ltd. (Unit-2)

Power and energy

* Karnaphuli Prakritik Gas Co. Ltd. * Shah Amanat Prakritik Gas Co. Ltd. * S. Alam Power Plant Ltd. * S. Alam Power Plant ltd. (Unit-2) * S. Alam Power Generation Ltd. * SS Power 1 Ltd, Gondamara, Baskhali (660 MW Coal Power Plant). * SS Power 2 Ltd, Gondamara, Baskhali (660 MW Coal Power Plant).

Transportation

S. Alam Luxury Chair Coach Services Ltd.

Shipping

* Bering Sea Lines

Manufacturing

* S. Alam Bag Manufacturing Mills Ltd.

Properties

* S. Alam Properties Ltd. * Hasan Abason (Pvt.) Ltd. * Modern Properties Ltd. * Ocean Resorts Ltd. * Prasad Paradise Ltd. * Marine Empire * Fatehabad Farm Ltd.

Trading

* S. Alam Brothers Ltd. * S. Alam Trading Co. (Pvt.) Ltd. * S. Alam & Company * Sonali Cargo Logistics (Pvt.) Ltd. * Sonali Traders * Global Trading Cor. Ltd.

Banks and non bank financial institution of S. Alam

Islami Bank Bangladesh Limited Islami Bank Bangladesh Ltd. (IBBL) ( bn, ইসলামী ব্যাংক বাংলাদেশ লিমিটেড) is an Islamic banking company based in Bangladesh. It became incorporated on 13 March 1983 as a public limited company u ...

* First Security Islami Bank *

Al-Arafah Islami Bank Limited Al-Arafah Islami Bank Limited ( bn, আল-আরাফাহ ইসলামী ব্যাংক লিমিটেড) is an Islamic bank in Bangladesh. The Bank is controlled by S. Alam Group of Industries. History Al-Arafah Islami Bank Lim ...

Bangladesh Commerce Bank Limited Bangladesh Commerce Bank Limited is a private sector commercial bank in Bangladesh. History The bank can trace its origins to the former Bangladesh Commerce and Investment Limited, set up on 27 January 1986. It was a non-bank financial institution ...

* Union Bank Limited *

(formerly

NRB global bank limited Global Islami Bank, former known as NRB Global Bank, is a fourth generation Bangladeshi sharia compliant private bank. Nizam Chowdhury is the chairperson of the Bank. Syed Habib Hasnat is the Managing Director of Global Islami Bank. History T ...

) * Social Islami Bank Limited * Aviva Finance (previously Reliance Finance) *Reliance Brokerage Services Limited

References

External links

* {{Official website, http://www.s.alamgroupbd.com Conglomerate companies of Bangladesh Companies based in Chittagong 1985 establishments in Bangladesh