First Security Islami Bank Limited
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
Board dissolution and regulatory takeover of governance
Bangladesh Bank dissolved the board associated with S. Alam Group and installed independent directors, following earlier scrutiny of the bank's governance and financial position.
2022
Investigation into lending and bank control
The Bangladesh High Court ordered multiple investigative and regulatory agencies to investigate First Security Islami Bank and two other banks associated in reports with S. Alam Group. The matter concerned allegations involving lending, control and possible misuse of bank resources.
2022
Cash shortage and unsecured-loan concerns
The bank was reported to have experienced a cash crunch after approving large unsecured loans, leading to heightened concern about its liquidity and credit-risk management.