Bangladesh Bank Governor Ahsan H Mansur announced that five private sector Islamic banks will soon merge into one, assuring that no employees will lose their jobs in the process.
During a press conference at the central bank in Dhaka, he clarified that this decision is not influenced by the upcoming elections. “This is part of an ongoing strategy. I anticipate the next government will continue this effort, but the merger is set to occur in the coming months rather than waiting for electoral outcomes,” he stated.
Mansur reassured employees that there’s no cause for concern regarding job security. He noted that some branches might be relocated—those in urban areas could be shifted to rural locations if needed.
On the topic of recovering misappropriated funds, he emphasized the necessity of final court rulings. “We cannot recover assets until we have a definitive court decision,” he explained, adding that preliminary steps involve gathering solid evidence and preparing legal documents. “Recovery relies heavily on the court’s judgment,” he added.
He also mentioned the possibility of utilizing Alternative Dispute Resolution (ADR) for asset recovery. “This approach necessitates cooperation from both parties’ legal representatives as they work toward a settlement,” he mentioned.
According to Mansur, the decision on whether to pursue recovery through courts or ADR will ultimately rest with the interim government. Upon instruction, he indicated that Bangladesh Bank would finalize preparations and engage legal counsel to move forward.
The governor wrapped up by stating that domestic assets need to be addressed through district courts, while foreign assets will require action in their respective countries. “We are making preparations for this objective,” he said.
