banks in the private sector to form

an Islamic bank. The merger process will begin in July and the initial process will be completed within three and a half months, starting on October 15. The Central Bank has prepared a roadmap in this regard.

During this period, the banks will be kept under close observation. In addition, the financial information of the banks will be verified. If any bank can repay the money borrowed from the central bank and the central bank's guarantee, that bank will not be merged. It will be allowed to run on its own. And if it fails to repay the loan within the stipulated time, it will be merged. Bangladesh Bank will form five teams to supervise these issues. People will also be recruited from the banks in the team.

The decision was announced

after a meeting with the chairmen and managing directors of the five banks on Wednesday. Senior officials of the central bank and top officials of the banks concerned were also present at the meeting.

The list of banks to be merged this time is Social Islami Bank, Global Islami Bank, First Security Islami Bank, Union Bank and Exim Bank. Among these banks, those banks that can repay loans given by the central bank in printed money and loans given by commercial banks with the central bank's guarantee by October 15 and improve their weak financial indicators will be excluded from the scope of merger. Those banks will be able to operate with their own standards.

Earlier, the Central Bank Governor

had said that six weak banks would be merged by July. National Bank was also among them. Later, National Bank contacted the Central Bank.

They said that National Bank is not an Islamic bank, so it cannot merge with those Islamic banks. Besides, the bank's financial condition is improving under the new management. For these reasons, they do not want to merge. As a result, the central bank also removed the name of National Bank from the list of mergers.