Bangladesh Bank has authorized Rupali Bank to release the remaining $3,197,561 from an approved foreign-currency syndicated loan to S Alam Group affiliate SS Power-1 Limited and to open new letters of credit. The central bank issued the notification on Wednesday, August 19, 2026, after previously permitting the company to open LCs on Sunday.

The notification, signed by Deputy Governor Md Kabir Ahmad, invokes powers under Section 121 of the Bank Company Act, 1991. It says Section 27ka(3) of the law will not apply to the loan disbursement and LC opening for SS Power-1. That provision ordinarily prevents a group entity from receiving new credit or credit facilities when the group is a loan defaulter.

Bangladesh Bank said neither the government nor the central bank will assume liability for any loan or financing provided under the facility. Lending banks or financial institutions will not be able to seek future financial support from the government or Bangladesh Bank against such loans. The source also cites allegations that S Alam Group took control of seven banks and one financial institution and borrowed heavily under various names.