DHAKA, Sept 9, 2025 (BSS) - The government has formed an eight-member working committee to implement the merger of five shariah-based banks.

To this end, the Financial Institutions Division (FID) of the finance ministry issued an order on Monday, saying it would prepare a work plan to implement the proposed merger.

Bangladesh Bank Deputy Governor Md. Kabir Ahmed will lead the committee as convener. 

The other members are Joint Secretary of the Finance Division of the Ministry of Finance Mohammad Rashedul Amin, Deputy Secretary Farid Ahmed, Joint Secretary of the Financial Institutions Division Sheikh Farid and Mohammad Saidul Islam, Director of the Bank Resolution Division of Bangladesh Bank Mohammad Zahir Hossain, and Additional Directors from the same division Kazi Arif-uz-Zaman and Mohammad Nazim Uddin.

The government has initiated procedures to merge five troubled Islamic banks into the country's largest state-owned shariah bank.

The banks are First Security Islami Bank, Global Islami Bank, Union Bank, Exim Bank, and Social Islami Bank.