Dhaka, June 25 -- The banking sector, often described as the heart of the economy, is once again in turmoil - this time due to a renewed push for mergers targeting six struggling banks.
Following the enactment of the "Bank Resolution Ordinance 2025," Bangladesh Bank has been granted sweeping powers to restructure or dissolve any bank under its jurisdiction, including private, state-owned, and foreign commercial banks.
The latest controversy centers on a merger initiative announced by Bangladesh Bank Governor Dr. Ahsan H. Mansur.
The plan aims to consolidate six financially distressed banks-First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, EXIM Bank, and National Bank-under temporary state ownership.
Five of...