, Sept. 30 -- Bangladesh Bank (BB) has approved and allocated office space in 'Sena Kalyan Bhaban' for the proposed government-owned Shariah-based bank to be formed through the merger of five struggling banks, tentatively named 'United Islami Bank PLC'.

The proposed bank activities are progressing through the office allocation, which is formed from the merger of five distressed banks.

The Common Services Department-1 of Bangladesh Bank confirmed the allocation by issuing an office order on Tuesday (September 30).

Govt to provide Tk 20200 crore as capital to establish 'United Islami Bank' merging 5 troubled Islami Banks

According to the order, a total of 2,306 square feet of space at Suite No. 1707 on the 17th floor of Sena Kalyan Bhab...