Information about S Alam Group has bought a bank with money from another lender and taken controlling stakes in other banks is surfacing now, but people in the banking sector and involved in economic policy-making knew about the developments, said Ahsan H Mansur, executive director of the Policy Research Institute of Bangladesh.

Prime Minister Sheikh Hasina has called for an investigation into the affairs of S Alam Group, which has been in the public discourse in recent times for its alleged excessive borrowing from the banking system in violation of rules.

The government has been looking into the sources of money of S Alam Group across the country, Finance Minister AMA Muhith said yesterday.

Social Islami Bank Limited yesterday made dramatic changes to its board and top management in a move that can be viewed as strengthening the grip of Chittagong-based S Alam Group on the bank.

S Alam Group will have to ensure alternative livelihoods for the villagers in Gondamara of Banshkhali upazila if it is to set up a coal-based power plant there, speakers say at a views-exchange meeting.

Fear of losing livelihood and shelter on khas land has turned hundreds of landless families in coastal Gondamara union of Banshkhali upazila against the proposed coal-fired power plant of S Alam Group.