Dhaka, Nov. 6 -- Five financially troubled Shariah-based private banks have suspended share trading, a day after Bangladesh Bank initiated formal steps to merge them.

The announcement came on Thursday through notices to investors from the Dhaka Stock Exchange (DSE), confirming that trading would remain halted "until further notice".

The suspension followed their declaration as non-functional on Nov 5 under Section 5 of the Bank Resolution Ordinance 2025.

The five banks involved in the merger are First Security Islami Bank, Global Islami Bank, Union Bank, EXIM Bank, and Social Islami Bank.

Under the central bank's directive, the boards of directors of these institutions were dissolved, and their managing directors were ordered to resig...