The bank was created through the merger of five troubled Islamic banks
Shareholders of five shariah-based troubled lenders, which are being merged into a large Islamic bank, lost hundreds of crores as the central bank announced that the shares now carry no value.
The central bank governor says about the to-be-merged banks
They will not get any share in the new bank
The five are: First Security, Union, Global Islami, Social Islami, and Exim
Merged lenders to be named United Islami Bank; ordinances on bank merger and depositor insurance to be placed at advisory council meeting today
Optimism regarding the merger of five struggling banks must be weighed against significant challenges.
BB to appoint administrative teams
The interim government has formed an eight-member working committee to implement the merger of five Shariah-based banks.
Optimism regarding the merger of five struggling banks must be weighed against significant challenges.
BB to appoint administrative teams
The interim government has formed an eight-member working committee to implement the merger of five Shariah-based banks.
The five banks slated for consolidation are First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank and Exim Bank.
Accountholders of merged banks will be able to maintain their respective accounts as before
In general, five issues need to be borne in mind when it comes to bank mergers in Bangladesh.
Has the process of planning bank mergers been truly voluntary?
The most recent bank merger proposal in Bangladesh reflects a pressing need for action due to Bangladesh Bank's determination to instill essential discipline and oversight in the financial sector, which is plagued by widespread irregularities.
After December, the central bank will take decision on merger, acquisition
Union Capital is going to merge with the Prime Bank as the central bank has approved the bid, according to BB officials.
