Confusion over bank merger, says Bangladesh Bank

Bangladesh Bank feels that the news about the bank merger is not being published correctly. Due to which confusion is created in the public mind. Bangladesh Bank issued a clarification notification to remove this.

According to the press release of Bangladesh Bank sent to the media on Tuesday, Bangladesh Bank is working on “bank merger” with two main objectives. The first is: Bangladesh will be established as a developing economy in 2026. As a result, more capable banks and financial institutions will be required in the country to provide effective banking services to the developing economies so that there is no hindrance in the investment in economic development.

The second is: Strengthening the financial sector by solving the existing problems of relatively weak banks and at the same time developing the activities of relatively strong banks so that the merged banking company can provide more services in the public interest.

Deposits of individual and institutional depositors in the banks under the process of merger will be completely safe and secure. Even after the completion of the merger, the current accounts of the account holders of respective banks will continue as before.

The merger process will be completed based on the consent of the entrepreneurial directors, current boards and common shareholders of the banks covered by the merger. All the activities of the merger will be carried out by following the policy outlined in BRPD Circular No. 8 issued by Bangladesh Bank on 4th April 2024.

BD Daily/Arafat