Published: 12:28 AM, 09 July 2026
Govt's hardline on 10 business groups including Nassa
The government has decided to file cases against 10 business groups for their direct connivance with financial vices including money laundering and loan scams.
The 10 business conglomerates are S. Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group,
Jemcon Group, Nassa Group, Sikder Group, Aramit Group etcetera.
Bangladesh’s financial sector and banking system suffered seriously due to abnormally high illegal money transfer and loan frauds by the above business conglomerates who flooded banks and financial institutions with siphoned off funds, misgovernance, capital flight etcetera during last 15 years.
Nazrul Islam Mazumder's financial vices were reported by several newspapers and television channels even while former Prime Minister Sheikh Hasina was in power. Nazrul Islam Mazumder spoiled a lot of private banks with loan scams and illegal money transfer abusing his power as the then President of Bangladesh Association of Banks (BAB). He forced newspapers to remove reports on financial corruption from websites exercising his nexus with intelligence divisions from 2009 to 2024. Nazrul Islam Mazumder was arrested after the immediate past government was ousted on 5 August 2024 through an Anti-Discriminatory Students' Movement.
