SIBL, in which Chattogram-based S Alam Group holds a majority stake, hid Tk 7,924 crore of its defaulted loans, according to an inspection by the central bank.

Social Islami Bank’s Chairman Md Mahbub Ul Alam and Additional Managing Director Abu Reza Md Yeahia resigned from their respective posts last week.

Bangladesh Bank has instructed five shariah-based banks to send a daily log of sanctioned credit of Tk 10 crore and above as it looks to restore calm and order at the lenders that have recently faced withdrawal pressure.