The High Court has ordered a three month freeze on 81.92% of
the shares in Islami Bank held in the names of various companies affiliated
with S.Alam Group.
The High Court bench led by Justice KM Kamrul Kader issued
the order on August 30 following a writ petition filed by Islamic Economics
Research Bureau (IERB), a sponsor shareholder company of Islami Bank Bangladesh
PLC. The court also issued a rule in the matter.
The court asked why Bangladesh Bank’s inaction in allowing
81.92% of Isl...