Dhaka, Nov. 6 -- Bangladesh Bank has sent letters to five banks, First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank, and EXIM Bank, informing them of the merger decision under the Bank Resolution Ordinance 2025.

The letters, addressed to the chairmen of the banks on Wednesday , stated that these banks have been declared non-functional and that their operations have been brought under the resolution process.

Earlier in the yesterday morning, Bangladesh Bank Governor Ahsan H Mansur invited the chairmen and managing directors of the banks to discuss the matter.

At a press conference on the issue at the central bank yesterday evening,Bangladesh Bank Governor Ahsan H Mansur said all five banks will be run by admi...