Govt forms body to merge five sharia-based banks

The government on Tuesday, September 9, formed an eight-member working committee to implement the merger of five Sharia-based banks. As per a decision of a meeting held on Monday, September 8, at the Financial Institutions Division of the Ministry of Finance, an office order was issued for the formation of the committee. The committee's mandate is to create an action plan for the implementation of the merger process for the respective five banks: First Security Islami Bank, Global Islami Bank, Union Bank, EXIM Bank, and Social Islami Bank. The committee is headed by Bangladesh Bank Deputy Governor Md Kabir Ahmmod as the convener. The other members include Joint Secretary of the Finance Division of the Ministry of Finance Mohammad Rashedul...