B Mirror Desk: The Bangladesh Bank has sanctioned the merger of private banks that have suffered financially due to personal theft, corruption, and irregularities, placing them under public management. The regulatory authority has finalized its comprehensive review and granted full authority.

Dr. Ahsan H Mansur, the Governor of Bangladesh North, has stated that the merger activities are expected to be completed by next July. He remarked, “This initial remedy has been observed in the financial assessment following a thorough analysis of the bank’s condition; decisions will be made after obtaining clarifications from the current authorities.

The governor added, “The first step will involve restructuring through further amendments to the capital.

The banks involved in the merger include: First Security Islami Bank, Social Islami Bank (SIBL), Global Islami Bank, Union Bank, Exim Bank, and National Bank.

According to the Bangladesh Bank, these issues are not to be taken lightly, as they pose ongoing risks. The irregularities and the systemic deficits in development, which involve substantial amounts of money, are viewed as a timely communication measure for the bank.