As part of its attempt to combine the five failing Shariah-based banks into a single organization under the Bank Resolution Ordinance, Bangladesh Bank (BB) has assigned temporary administrators to each of them.
At a press conference held today at the city’s central bank offices, Bangladesh Bank (BB) Governor Ahsan H. Mansur verified it.
First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank, and Exim Bank are the five banks. The united company is anticipated to be called United Islami Bank.
In his speech, Mansur said BB has started officially a significant resolution process involving five commercial banks, marking the commencement of a planned merger intended to strengthen the country’s banking system.
The BB document states that Md. Salah Uddin, the central bank’s executive director, has been designated administrator for SIBL; Muhammad Badiuzzaman Didar, another executive director, has been appointed for FSIB; and Sawkatul Alam, an executive director, has been appointed for Exim Bank.
For the remaining banks, two directors have been appointed: Md. Muksuduzzaman for Global Islami Bank and Mohammad Abul Hashem for Union Bank.
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