, Sept. 8 -- Former directors of Social Islami Bank Limited (SIBL) on Monday voiced strong opposition to the government's plan to merge five private banks into a state-owned Islamic bank.

At a press conference held at the Jatiya Press Club, they rejected the central bank's initiative, terming it 'unjust' and 'unacceptable'.

"If SIBL needs money to run the bank, Bangladesh Bank should provide it and we return it later through business. There is no justification for taking it over," said former SIBL director Dr Md Jahangir.

Former chairman Dr Major (retd) M Rezaul Haque alleged that the bank had earlier been 'seized at gunpoint' and now the authorities were trying to bring it under state ownership again.

"What is our fault? No one has t...