Dhaka, Oct. 30 -- Mohammad Saiful Alam, owner of S Alam Group, has initiated an international arbitration case, alleging that Bangladesh's efforts to recover assets allegedly transferred overseas have caused his conglomerate losses amounting to "hundreds of millions of dollars," according to a report by the Financial Times.
The claim was lodged on Monday (27 October) with the World Bank's International Centre for Settlement of Investment Disputes (ICSID) in Washington. Alam and his family assert that the interim administration under Chief Adviser Muhammad Yunus launched a "targeted crackdown," which included freezing bank accounts, seizing properties, and damaging the value of their businesses.
The dispute could have significant implicati...