Central bank grants final approval for the merger of five Shariah-compliant banks into ‘United Islami Bank’
Bangladesh Bank Approves Merger of Five Sharia-Based Banks Bangladesh Bank has finalized the merger of five struggling Sharia-based banks into a single entity called ‘United Islamic Bank.’ This decision clears the last regulatory barriers for the new bank to start operations. The board of directors of the central bank gave their approval on November 30, […]
Islami Bank lets go of 200 staff and places 4,771 in OSD due to boycott of competency tests.
Bank insiders indicate that most employees impacted by recent decisions were hired between 2017 and August 2024. Islami Bank Bangladesh has laid off 200 employees, while simultaneously designating 4,771 individuals as “Special Service Officers” (OSDs). A senior official explained that initially, 4,971 employees were placed on OSD status to bypass an examination. Subsequently, 200 employees […]
Social Islami Bank chairman defers merger choice to central bank, director disagrees with the decision
Chairman Mohammad Sadiqul Islam stated that the decision regarding the merger lies with the central bank. However, Dr. Md (RETD) Rezaul Haque disagrees, arguing that the bank’s current standing doesn’t warrant a merger. Highlights SIBL Chairman states the merger decision will come from Bangladesh Bank. Director Rezaul Haque is firmly against the merger. Chairman mentioned […]
Islami Bank gears up for legal battle against S Alam, other institutional shareholders – The Business Standard
The bank plans to engage with international investors such as IDB, IFC, World Bank and Al-Rajhi Group April 27, 2025, 09:05 AM Last revised: April 27, 2025, 9:10am Islamic bank logo. Photo: Collecting “> Islamic bank logo. Photo: Collecting Highlights Banks move to shareholders related to financial reputation damages A central law team was established […]