Dhaka, Nov. 6 -- Following the formal initiation of the process to merge five financially distressed Shariah-based private banks, Bangladesh Bank Governor Ahsan H Mansur has identified several challenges in stabilising the new bank.

Speaking at a press conference on Wednesday in Dhaka, he said the primary challenge is keeping the business running, with each bank required to continue operating properly.

The second challenge is IT system integration, which involves converting the different technologies used by each bank into a single platform and ensuring proper monitoring over it, he added.

"It is very important that we maintain takeover control over the IT systems."

Several private banks have faced financial fragility for some time du...