Some Islamic banks to merge: Governor

The merger process targeting weak banks is a long procedure and will begin primarily with some Islamic banks, said Bangladesh Bank Governor Ahsan H Mansur.

These banks will be brought under the bank resolution ordinance and initially nationalised for a certain period, he said at a press conference at the central bank headquarters today. 

He assured depositors their funds would remain safe during the transition, as the government would take over the merged banks.

The new ordinances gave power to the central bank for mergers and acquisitions, as per the governor.