Bangladesh Bank Governor Mostakur Rahman has confirmed that the ongoing process to merge five banks will continue. He instructed officials to take all possible measures to recover defaulted loans and to reopen closed businesses within regulatory frameworks. The directives were issued during a meeting with the Bank Resolution Department at the central bank’s headquarters on Tuesday. Mostakur Rahman took office as governor last Thursday, following the removal of Ahsan H. Mansur, who had initiated several banking reforms after the fall of the Awami League government.

According to Bangladesh Bank officials, the merger of Union Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and EXIM Bank into a new entity named Combined Islami Bank will proceed. Administrators appointed by the central bank are currently managing these institutions. The new bank’s paid-up capital has been set at Tk 350 billion, with Tk 200 billion from the government and Tk 150 billion from the deposit insurance fund. The authorized capital is Tk 400 billion, and the headquarters is located at Senakalyan Bhaban in Dhaka.

The governor also directed administrators to ensure depositors can withdraw funds without harassment and to identify those involved in financial irregularities for legal action.