Five bank mergers: BB notifies lenders of merger decision
Bangladesh Bank has sent letters to five banks, First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank, and EXIM Bank, informing them of the merger decision under the Bank Resolution Ordinance 2025.
The letters, addressed to the chairmen of the banks today, stated that these banks have been declared non-functional and that their operations have been brought under the resolution process.
For all latest news, follow The Daily Star's Google News channel. The Daily Star has obtained a copy of the letters.
Earlier in the morning, Bangladesh Bank Governor Ahsan H Mansur invited the chairmen and managing directors of the banks to discuss the matter.
The central bank is likely to appoint administrators to the banks later this week.
A press conference on the issue is scheduled for 4:00pm today at the central bank, where the governor will be present.
After the meeting with the central bank governor, Abdul Mannan, chairman and independent director of First Security Islami Bank, told the Daily Star that the activities of the board of the five banks ended today.
The central bank will send administrators to those banks today, he added.
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