Five Islamic Banks Set to Merge, Jobs Secure: BB Chief

Bangladesh Bank Governor Dr Ahsan H Mansur on Sunday, June 15, announced that the merger of five private sector Islamic banks – First Security Islami Bank, Global Islami Bank, Union Bank, Social Islami Bank, and EXIM Bank – is in its final stage.  He assured that no employees will lose their jobs as a result of the merger. Speaking to journalists at the central bank’s boardroom, Dr Mansur clarified, “This merger is unrelated to the upcoming elections and is part of an ongoing process. We expect the next government to support its continuation. However, we are not waiting for the elections; the merger of these five Islamic banks will be completed within the next few months.” Employee and branch reassurance

Mansur addressed concerns about job security, emphasising that employees have no reason to fear layoffs. He noted that some branch reorganisation may occur, particularly for banks with a high concentration of branches in urban areas. “Where necessary, we may relocate some branches to rural areas to better serve underserved regions,” he added. The merger aims to streamline operations while maintaining employment stability and expanding access to banking services across Bangladesh.