Govt to decide shareholders’ fate in 5 Shariah-based banks proposed for merger: Adviser
The governor’s statement is not final as the government will look into the matter, he says
The government will make the final decision on the status of shareholders of the five Shariah-based banks proposed for merger, Finance Adviser Dr Salehuddin Ahmed said today (9 November).
Speaking to reporters at the Secretariat, Salehuddin said the Bangladesh Bank governor's statement is not final as the government will look into the matter.
Earlier on 5 November, Bangladesh Bank Governor Dr Ahsan H Mansur said the equity value of the five banks — First Security Islami Bank, Social Islami Bank (SIBL), EXIM Bank, Global Islami Bank and Union Bank — had fallen below zero.
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As a result, he said, the shareholders would not receive any compensation for their shares.
Sponsors, general shareholders of 5 merged Islamic banks now empty handed: Governor
Responding to questions on the matter, Salehuddin said, "We have stated that the issue will be examined. What the governor has said is not the final word. The final decision will be taken by the government."
When asked about the governor's recent remark suggesting his position be elevated to the rank of a minister, the finance adviser declined to comment.
"I will not comment on that. If any such proposal is submitted to us, we will review it collectively and respond accordingly," he said.
Mentioning that issues related to the banking sector are a sovereign matter, Salehuddin said, "This falls entirely under the jurisdiction of the Government of Bangladesh. Decisions will be made in line with our own laws and constitution. No external body can dictate this."
