Union Bank and First Security Islami Bank have dismissed a total of 456 officials following allegations of unauthorized loan approvals under the influence of the S Alam Group. Union Bank terminated 262 employees, while First Security Islami Bank removed 194 staff members.
This move is part of a broader set of reforms introduced by Bangladesh Bank to address financial mismanagement, loan fraud, and liquidity issues that arose due to inadequate oversight during the previous administration. The reforms aim to restore integrity to the banking sector and ensure more stringent checks and balances in the approval of loans. These actions are seen as a crucial step towards stabilizing the financial system and regaining public trust in the banking sector.
