Bangladesh Bank Governor Ahsan H Mansur announced on Sunday that the process of merging five private Islamic banks is in its final stages and is expected to be completed within the next few months—well before the upcoming national election.
Speaking at a press conference held at Bangladesh Bank headquarters, the governor clarified that the merger has no connection to the election. “This is an ongoing process. We expect the next government to continue supporting it, but we are moving ahead without waiting for the election,” he said.
The governor also sought to reassure bank employees, emphasizing that no jobs would be lost due to the merger. “There’s no reason for staff to be concerned. If necessary, some branch restructuring will be done. In urban areas with a higher concentration of branches, some may be relocated to rural areas,” he explained.
In response to questions about the recovery of laundered money, Governor Mansur said the process is lengthy and must follow a step-by-step legal approach. “Asset recovery is not possible without a final court verdict. We must gather specific data and follow due legal procedures,” he stated.
He added that the central bank wants judicial validation of their claims and will take further steps based on court rulings. Additionally, he mentioned that the Alternative Dispute Resolution (ADR) mechanism remains an option. “Out-of-court settlements are also possible. In such cases, legal representatives from both parties can work toward a resolution. Whether through court or ADR, Bangladesh Bank will follow the government’s chosen course and appoint lawyers accordingly.”
The governor concluded by saying that preparations are underway to pursue cases both in local courts for domestic assets and in foreign courts for assets held abroad.