Bangladesh Bank has appointed administrators to manage and merge five struggling Islamic banks, a move designed to protect depositors and steady the banking system. The five banks — First Security Islami Bank, Social Islami Bank, Global Islami Bank, Union Bank and EXIM Bank — will be overseen by temporary teams that will keep branches open and normal services running while leaders build a new, stronger Shariah-based lender. The administrators will take charge of day-to-day operations, check accounts, sort records and work to improve governance and risk controls so the combined bank can serve customers safely. Customers are being told they can still make withdrawals, pay bills and use digital services, and staff will guide people as systems are updated. Officials expect the merger to create a bank with more scale, better technology and clearer rules that will make lending smoother and lower costs over time. Economies of scale can help reduce duplication, improve oversight and free funds for new digital tools that make banking easier for small businesses, farmers and savers. Administrators will also review IT systems, strengthen internal controls and train staff to handle new processes so the combined bank runs more reliably. Workers at branches and call centers will keep helping customers and are urged to cooperate with the temporary teams to make the change calm and orderly. For small savers this step aims to keep deposits safe and secure by building a healthier bank that meets regulator standards and can better withstand shocks. For businesses and households, a stronger institution should mean clearer loan rules, more reliable payment services and wider access to digital banking channels. Regulators see this as a way to restore trust while fixing weak spots that led to trouble, and they plan to move carefully so customers face minimal interruption. The consolidation process will also focus on good record keeping, fair treatment of creditors and transparent governance so the new bank can win back confidence. While restructuring takes time and work, the plan signals a path forward where troubled units are combined into a well-run lender that supports jobs, lending and local commerce. Customers are encouraged to use official bank channels for questions and to keep personal records handy. In the end, the merger aims to protect people’s money, improve service, and create a single Shariah bank that is stronger, more modern and better able to serve communities across the country. The merger will also create chances for staff training, new jobs in technology and customer service, and better support for rural branches that serve remote communities. With steady oversight and clear rules, the new bank can attract honest investment, offer safer savings products, and roll out user-friendly mobile banking to more customers.
