BB board approves merger plan for five Islamic banks | Business

DHAKA, Sept 16, 2025 (BSS) - The board of Bangladesh Bank (BB) has approved a plan to merge five financially troubled Islamic banks and appoint administrators to oversee the process. The approval came at a special board meeting today, chaired by BB Governor Dr Ahsan H Mansur. The banks involved in the merger are First Security Islami Bank, Social Islami Bank, Global Islami Bank, Union Bank, and EXIM Bank. Following the meeting, BB Executive Director and spokesperson Arif Hossain Khan said the merger process is now officially underway and is expected to take at least two years to complete. He noted that under the Bank Resolution Ordinance, Bangladesh Bank will appoint temporary administrative teams in each of the five banks....