No job cuts in Islamic bank merger, assures Governor
NN Online :
Bangladesh Bank Governor Dr. Ahsan H. Mansur has stated that the planned merger of five private Islamic banks is now in its final stages.
Speaking to journalists at the central bank’s boardroom on Sunday, he clarified that the initiative is not connected to the upcoming national elections and emphasized that no bank employee would lose their job due to the merger.
The five banks involved in the merger are First Security Islami Bank, Global Islami Bank, Union Bank, Social Islami Bank, and EXIM Bank.
Dr. Mansur mentioned that although the merger process will likely be completed within the next few months, it will move forward regardless of the election timeline.
He also noted that while some branch reorganization might be necessary, particularly in urban areas, steps could be taken to relocate branches to rural locations.
Addressing the issue of laundered funds, the Governor explained that asset recovery is a long-term legal process that depends on court verdicts.
Accurate information and proper documentation must be collected, and due legal procedures followed, before any recovery efforts can succeed. He emphasized that Bangladesh Bank is focused on ensuring that claims are verified in court and that action will be taken only after legal confirmation.
Dr. Mansur also pointed to the possibility of using Alternative Dispute Resolution (ADR) for asset repatriation, allowing lawyers from both parties to reach settlements outside of court. He said Bangladesh Bank will appoint legal representatives as needed, depending on whether the government opts for litigation or ADR.
Preparations are already underway to pursue cases in local courts for domestic asset recovery and in international courts for overseas claims.