, Nov. 6 -- Bangladesh Bank has laid out a clear two-phase mechanism for depositors of five merging Shariah-based banks to recover their funds, prioritising small savers and ensuring the security of all deposits as the banks are consolidated into a single new entity.

Governor Dr Ahsan H Mansur provided the assurance while to UNB on Thursday, urging depositors to have 'nothing to worry about' as the central bank is committed to safeguarding their money.

No Compensation for Shareholders

Dr Mansur said the shares held by sponsor shareholders and general investors in the five banks undergoing merger will be valued at zero. No compensation will be provided to any shareholder.

"The net asset value (equity) of the five banks has now reached ...