Bangladesh Bank Governor Dr. Ahsan H. Mansur has announced that five private Islamic banks are scheduled to undergo a merger in the near future. Addressing concerns, he clarified that this move is unrelated to the upcoming national elections and will proceed within the next few months, well before the polls.

“There is no reason for bank officials to worry,” Dr. Mansur said, noting that necessary adjustments, including potential relocation of branches, may take place. Banks with a higher concentration of urban branches might be directed to expand into rural areas to ensure balanced coverage.

He also discussed the ongoing efforts to recover assets laundered abroad. “This will be a phased process. No asset can be reclaimed without a final court verdict,” he said. However, he mentioned the existence of a mechanism for out-of-court settlements that could potentially expedite the repatriation of illicit funds.