{{Short description|Bangladeshi-Singaporean businessman}} {{Infobox person | name = S. Alam | native_name = এস. আলম | native_name_lang = bn | image = Mohammed Saiful Alam Masud MD & Chairman of S. Alam Group - Banshkhali 1200 MW Coal-fired Power Plant Contract Signing PDB S Alam Group (PID-0055830) (cropped).jpg | caption = Alam in 2016 | birth_name = Mohammed Saiful Alam Masud Chowdhury | birth_date = 1960 | birth_place = Patiya, Chittagong | citizenship = Singapore (2023-present) <br>Bangladesh | occupation = Businessperson | organization = S. Alam Group of Industries | known_for = Large scale money laundering | mother = Chemon Ara Begum | father = Mozaherul Anwar | relatives = Akhtaruzzaman Chowdhury Babu (maternal uncle)<br>Saifuzzaman Chowdhury (cousin) }}
'''Mohammed Saiful Alam Masud Chowdhury''' (commonly known as '''S. Alam''') is a Bangladeshi-born Singaporean<ref name="auto">{{Cite web |last=BSS |date=2025-09-13 |title=$234b plundered during 15-yr of Hasina regime: FT |url=https://en.prothomalo.com/bangladesh/i1fqye9rcp |access-date=2026-03-19 |website=Prothomalo |language=en}}</ref> businessman and the founder and chairman of the S. Alam Group of Industries, a major industrial conglomerate in Bangladesh.<ref>{{Cite web |title=Probe S Alam Group assets |url=https://www.thedailystar.net/news/bangladesh/news/probe-s-alam-group-assets-3188391 |access-date=2026-03-19 |website=The Daily Star |language=en}}</ref> Alam has been the subject of allegations involving large-scale financial irregularities, including accusations of embezzlement, money laundering, and misuse of banking systems. He has been accused of siphoning off a total of $234 billion from the country in foreign currency with the help of associates linked to the government of Sheikh Hasina.<ref name="auto"/>
== Biography == Alam was born in 1960 in Patiya Upazila, Chattogram. His mother's name is Chemon Ara Begum, and his father's name is Mozaherul Anwar. He is the fourth of twelve siblings, including seven brothers and five sisters.<ref>{{Cite web |title=S. Alam |url=https://www.voiceofpatiya.com/p/s-alam.html |access-date=2026-03-19 |website=Voice of Patiya • First Online Portal of Patiya}}</ref> He is the nephew of Akhtaruzzaman Chowdhury Babu.<ref name="auto1">{{Cite web |last=সামাদ |first=সানাউল্লাহ সাকিব,ফাহিম আল |date=2025-01-28 |title=এস আলমের তিন বাড়িতে সুনসান নীরবতা, বন্ধ বাংলোবাড়ির কাজ |url=https://www.prothomalo.com/business/economics/ypzk5z7nrt |access-date=2026-03-19 |website=Prothomalo |language=bn}}</ref>
=== Renunciation of Bangladeshi citizenship === On 10 October 2022, Alam, his wife, and their three sons surrendered their Bangladeshi passports. The same day, they were granted permanent residency in Bangladesh as foreign nationals, facilitated by the Ministry of Home Affairs under directives from senior government authorities. Analysts suggest that it may have been intended to ease money laundering and limit legal accountability in case of future scrutiny.<ref>{{cite news |title=Order on S Alam’s renunciation of Bangladeshi citizenship stayed |url=https://www.thedailystar.net/news/bangladesh/news/order-s-alams-renunciation-bangladeshi-citizenship-stayed-4036521 |access-date=19 March 2026 |work=The Daily Star |language=en}}</ref>
In November 2025, the High Court of Bangladesh suspended the government’s acceptance of Alam’s renunciation of Bangladeshi citizenship.<ref>{{cite news |last1=Staff |first1=Reporter |title=Order on S Alam’s renunciation of Bangladeshi citizenship stayed |url=https://www.thedailystar.net/news/bangladesh/news/order-s-alams-renunciation-bangladeshi-citizenship-stayed-4036521 |access-date=12 May 2026 |work=The Daily Star |date=18 November 2025 |language=en}}</ref> Alam received his Singaporean citizenship in 2023.<ref>{{Cite news |date=25 December 2024 |title=Bangladesh Probes Singaporean Tycoon Alam, Straits Times Reports |url=https://www.bloomberg.com/news/articles/2024-12-25/bangladesh-probes-singaporean-tycoon-alam-straits-times-reports |access-date=19 March 2026 |work=Bloomberg}}</ref> In February 2026, Alam re-applied for the renunciation of his and his family's Bangladeshi citizenship, following the formation of the newly elected government of Bangladesh. The application was not considered by the Ministry of Home Affairs of Bangladesh because it remained a pending issue with a stay order from the High Court of Bangladesh.<ref>{{Cite web |last=RahmanDhaka |first=Arifur |title=S Alam applies again to renounce Bangladeshi citizenship |url=https://en.prothomalo.com/bangladesh/nxmj9fu24c |access-date=2026-05-18 |website=Prothomalo |language=en}}</ref>
== Career == Alam started his career in 1980 as an agent of corrugated iron sheet with the help of his maternal uncle Babu and later ventured into transportation business. He later expanded his business into steel, cement, food, and energy sector.<ref name="auto1"/> In 2004, the S. Alam Group took control of First Security Islami Bank from Sikder Group and Alam became the bank's chairman.<ref name="auto1"/>
After the victory of Awami League in 2014 general elections, he became very close to the Prime Minister Sheikh Hasina. Between 2016 and 2017, he gradually gained control over Islami Bank, Social Islami Bank, National Bank, and Commerce Bank. Union Bank, Global Islami Bank, and Al-Arafah Islami Bank also came under his family's control.<ref>{{cite news |title=পত্রিকা (১৯শে অগাস্ট): ‘ইসলামী ব্যাংকে এস আলমের ৭৫ হাজার কোটি টাকার ঋণ’ |url=https://www.bbc.com/bengali/articles/c1d7n72pgeeo |access-date=12 May 2026 |work=BBC News বাংলা |date=19 August 2024 |language=bn}}</ref><ref>{{cite news |title=Tycoons tied to Hasina govt syphoned off $17b, S Alam alone grabbed $10b: BB governor |url=https://www.tbsnews.net/economy/dgfi-helped-force-takeover-leading-banks-bb-governor-tells-ft-978021 |access-date=12 May 2026 |work=The Business Standard |date=28 October 2024 |language=en}}</ref>
== Corruption and money laundering == [[File:NRB Global Bank Winter Clothing Donation Prime Minister Sheikh Hasina Ganabhaban Dhaka (PID-0057311).jpg|thumb|S. Alam (rightmost) and P.K. Halder (leftmost), Chairman of S. Alam-owned NRB Global Bank at a meeting with Prime Minister Sheikh Hasina in 2015.]] Taking advantage of the banks owned by Alam and the political affiliation with Sheikh Hasina's Government, nearly 200,000 crore taka was allegedly withdrawn from nine banks and financial institutions. The S. Alam family accumulated wealth across several countries, using the names of family members, children, and sons-in-law to take loans, implicating the entire family in irregularities.<ref name="auto1"/>
In 2017, Alam, with support from Directorate General of Forces Intelligence chief Mohammad Akbar Hossain, took control of Islami Bank Bangladesh and Social Islami Bank Limited through pressure and later restructured the board of directors of both banks.<ref>{{Cite web |last=সাকিব |first=সানাউল্লাহ |date=2026-05-12 |title=‘এই, আপনারা কারা’, এটি একটি ব্যাংক দখলের গল্প |url=https://www.prothomalo.com/business/bank/p34436v04u |access-date=2026-05-12 |website=Prothomalo |language=bn}}</ref><ref>{{Cite web |last=সাকিব |first=সানাউল্লাহ |date=2026-05-12 |title=আরাস্তুর বাসায় গিয়ে এস আলম বলেন, ‘ইউ হ্যাভ টু স্টেপ ডাউন’ |url=https://www.prothomalo.com/business/bank/cybtt5tgv8 |access-date=2026-05-12 |website=Prothomalo |language=bn}}</ref><ref>{{Cite web |title=S Alam Takeover Of Social Islami Bank {{!}} How S Alam seized control of SIBL with the help of intelligence agency |url=https://www.thedailystar.net/star-multimedia/news/how-s-alam-seized-control-sibl-the-help-intelligence-agency-4174136 |access-date=2026-05-12 |website=The Daily Star |language=en}}</ref> After taking control of the several banks, S Alam Group appointed 7,240 employees in them, mostly from his hometown Patiya, violating the government regulations of bank.<ref>{{Cite web |title=Islami Bank finally freed from S Alam Group |url=https://www.thedailystar.net/business/economy/banks/news/islami-bank-finally-freed-s-alam-group-3683186 |access-date=2026-05-16 |website=The Daily Star |language=en}}</ref>
An investigation by independent British news media ''The Financial Times'' estimated the total amount embezzled by Alam and his associates to be {{US dollar|234 billions}}.<ref>{{Cite web |title=$234b plundered during 15-yr Hasina regime: FT |url=https://www.bssnews.net/news-flash/311292 |access-date=2026-03-19 |website=BSS}}</ref>
A field investigative report by ''The Business Standard'' in September 2024 alleged that Alam had invested {{US dollar|700 millions}} in three hotels and a retail space in a shopping mall in Singapore by illegally siphoning out foreign currency from Bangladesh.<ref>{{Cite web |date=2024-09-10 |title=A close look at S Alam's Singapore empire |url=https://www.tbsnews.net/bangladesh/close-look-s-alams-singapore-empire-937661 |access-date=2026-03-19 |website=The Business Standard |language=en}}</ref>
Following the publication of the report, the Singapore's Financial Intelligence Unit sought information from Bangladesh Financial Intelligence Unit (BFIU) about the S. Alam Group and its owner.<ref>{{Cite web |date=2024-09-19 |title=Singapore Financial Intelligence Unit inquires BFIU about S Alam Group's overseas, domestic assets |url=https://www.tbsnews.net/economy/banking/singapores-financial-intelligence-unit-asks-bfiu-about-s-alam-groups-overseas |access-date=2026-03-19 |website=The Business Standard |language=en}}</ref><ref>{{Cite web |title=Overseas assets: Singapore FIU seeks info on S Alam Group |url=https://www.thedailystar.net/news/bangladesh/news/overseas-assets-singapore-fiu-seeks-info-s-alam-group-3707446 |access-date=2026-03-19 |website=The Daily Star |language=en}}</ref>
In 2023, the High Court of Bangladesh directed the government to investigate allegations that Alam unlawfully invested Tk 11,000 crore (about $1 billion) in Singapore and other countries.<ref>{{Cite web |date=6 August 2023 |title=Investigate S Alam’s money laundering allegation: HC |url=https://www.newagebd.net/print/article/208707 |access-date=19 March 2026 |website=The New Age}}</ref> In 2025, Anti-Corruption Commission of Bangladesh filed several cases against Alam over allegations of large-scale money laundering during the tenure of Awami League government.<ref>{{Cite web |last=bdnews24.com |title=ACC files 3 cases against S Alam Group entities over Tk 62bn 'loan embezzlement' |url=https://bdnews24.com/bangladesh/de87ccb44b4c |access-date=2026-03-19 |website=S Alam Group: ACC files 3 more cases Tk 62bn 'embezzlement' |language=en}}</ref>
In several cases against S. Alam, the court ordered the confiscation of assets owned by him and his family both in Bangladesh and Singapore.<ref>{{Cite web |title=Freeze Tk 813.56cr in 227 bank accounts of S Alam, family {{!}} The Daily Star |url=https://www.thedailystar.net/news/bangladesh/crime-justice/news/freeze-tk-81356cr-227-bank-accounts-s-alam-family-3831516 |access-date=2026-03-19 |website=www.thedailystar.net |language=en}}</ref><ref>{{Cite web |date=2025-10-20 |title=Court orders freezing of S Alam’s shares worth Tk8,000cr |url=https://www.tbsnews.net/bangladesh/court/court-orders-freezing-s-alams-shares-worth-tk8000cr-1265396 |access-date=2026-03-19 |website=The Business Standard |language=en}}</ref><ref>{{Cite web |title=Court orders to freeze assets of S Alam, family members in Singapore {{!}} Others |url=https://www.bssnews.net/others/291030 |access-date=2026-03-19 |website=BSS}}</ref><ref>{{Cite web |title=Freeze, confiscate S Alam’s assets in Singapore {{!}} The Daily Star |url=https://www.thedailystar.net/news/bangladesh/crime-justice/news/freeze-confiscate-s-alams-assets-singapore-3936666 |access-date=2026-03-19 |website=The Daily Star |language=en}}</ref>
=== Arbitration case against the Government of Bangladesh === In October 2025, Alam initiated an arbitration proceeding against the Government of Bangladesh at the World Bank's International Centre for Settlement of Investment Disputes (ICSID). Filed under the 2004 Bangladesh–Singapore bilateral investment treaty, the case alleged that government actions—such as asset freezing and confiscation—caused significant financial losses to the S. Alam group and the family.<ref>{{Cite web |last=Staff |first=Reporter |date=2025-10-29 |title=S Alam has filed an arbitration case with World Bank |url=https://en.prothomalo.com/business/local/29wtoiob3i |access-date=2026-03-19 |website=Prothomalo |language=en}}</ref>
In February 2026, the Government of Bangladesh appointed a British law firm to represent the government in the arbitration case filed by Alam.<ref>{{Cite web |title=Bangladesh engages British law firm to face S Alam arbitration |url=https://www.justnewsbd.com/en/law-order/news/28674 |access-date=2026-03-19 |website=Just News BD |language=en}}</ref>
=== Conviction === On 21 May 2026, Money Loan Court-1 in Chittagong sentenced Alam and 10 others, including wife Farzana Parveen, his brothers Osman Gani, Md Rashedul Alam, Abdus Samad to 5 months in prison on charges of loan default of BDT 84.49 Crore.<ref>{{Cite web |title=S Alam Group chairman among 11 sentenced in Tk 84.5cr Islami Bank loan case |url=https://www.thedailystar.net/news/crime-justice/news/s-alam-group-chairman-among-11-sentenced-tk-845cr-islami-bank-loan-case-4181406 |access-date=2026-05-29 |website=The Daily Star |language=en}}</ref>
==References== {{Reflist}}
== External links == {{Commons category|S. Alam}} Category:Bangladeshi businesspeople Category:Singaporean businesspeople Category:1960 births Category:People from Patiya Upazila Category:Corruption in Bangladesh Category:Living people