Social Islami Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
Alleged loan and letter-of-credit abuses
Media reports alleged large-scale borrowing and letter-of-credit losses involving the bank and related banks. Social Islami Bank contested the reporting, and the High Court ordered an investigation into alleged loan scams.
2017
Ownership and board-control controversy
The reported S. Alam Group takeover was followed by the resignation and replacement of multiple directors. Critics raised concerns about ownership concentration and alleged use of subsidiary entities to acquire shares.
2015
Financial irregularities acknowledged in apology to Bangladesh Bank
Social Islami Bank apologized to Bangladesh Bank over financial irregularities.
2012
Terrorism-financing allegations involving shareholder organizations
A U.S. Senate investigation into HSBC-related records referred to alleged links between two shareholder organizations and terrorist groups and raised allegations concerning founder M. A. Mannan. The bank denied the terrorism-financing allegations and sought action concerning the organizations’ shareholdings.