AhlulBayt News Agency (ABNA): The central bank of Bangladesh announced that five Islamic banks will be merged into a single state-owned bank. A committee led by the deputy governor has been tasked with implementing the plan, which is expected to be completed by mid-November.
Officials said the decision aims to prevent a banking system collapse, protect depositors, and safeguard employees’ jobs, noting that liquidation would have been more costly than a merger. However, experts warned of major challenges in executing the plan.
Authorities added that merging the Islamic banks, alongside stronger oversight and transparency, could provide an opportunity to reform the country’s banking sector.
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