Dhaka, Nov. 16 -- Bangladesh Bank Governor Dr Ahsan H Mansur on Sunday said a substantial portion of the capital from the country's five troubled Shariah-based banks has been siphoned off abroad, leaving no option but to merge them to safeguard the sector.

He made the remarks while speaking at the opening session of the Bangladesh Islamic Finance Summit 2025, held at a city hotel.

The three-day summit aims to position Bangladesh as a key Islamic finance hub in South Asia.

"Much of the capital from the five Shariah-based banks has been taken out of the country. Unfortunately, even the most dynamic Islamic bank in the country was hollowed out," the governor said.

The five banks currently undergoing the merger process are EXIM Bank, Firs...