Dhaka, Nov. 27 -- Administrators overseeing the merger of five Shariah-based banks have taken steps to reduce salaries, allowances, and other benefits for officers and employees as part of the integration process.

The banks facing financial strain are Exim Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank.

Together, they employ around 16,000 staff. To support operational costs, Bangladesh Bank provided Tk 3.5 billion in liquidity to these banks on Thursday.

Mohammad Shahriar Siddiqui, assistant spokesperson of Bangladesh Bank, told bdnews24.com on Thursday that as an emergency measure, proportional cuts in pay and benefits are being considered.

"Now the focus is on reducing expenses. How much the...