Advisory Council approves proposal of establishing a bank merging five Islami Banks | News Flash

DHAKA, Oct 9, 2025 (BSS) - The Advisory Council today approved a proposal to establish a new single Islami Bank by merging five troubled private-sector Shariah-based Islami Banks. The approval was given at the Council's meeting at the Chief Adviser's Office (CAO) in the city with Chief Adviser Professor Muhammad Yunus in the chair."A significant decision was made at today's meeting. To ensure financial sector stability and strengthen Islamic banking, a proposal has been approved to merge five troubled banks into one new Shariah-based bank," Chief Adviser's Press Secretary Shafiqul Alam said at a briefing at the Foreign Service Academy here following the meeting.The five banks to be merged are: First Security Islami Bank PLC, Global Islami Bank PLC, Union...