S Alam gives govt 6-month to resolve assets disputes, warns int’l arbitration
Staff Correspondent
Mohammad Saiful Alam, Chairman of S Alam Group, has given the interim government six months to resolve issues related to his assets and investments.
He also said if not resolved, he plans to take international legal steps.
According to the Financial Times, Saiful Alam sent a "dispute resolution notice" on December 18 to Chief Adviser Dr. Muhammad Yunus and other advisers.
The notice accuses the government of seizing his assets and blocking investments, which he claims violate his rights and Bangladesh's laws.
The notice also mentions that Saiful Alam and his family became Singaporean citizens between 2021 and 2023, after residing there since 2011. They gave up their Bangladeshi citizenship in 2020, invoking a 2004 investment treaty between Bangladesh and Singapore.
The notice, prepared by U.S.-based law firm Quinn Emanuel & Sullivan, claims government actions have devalued the group's investments. Saiful Alam has warned he will take the matter to international arbitration if no solution is found within six months.
