Bangladesh Bank Governor Ahsan H Mansur has revealed that a significant amount of capital from five struggling Shariah-based banks was illegally transferred overseas, making their consolidation into a single entity necessary to protect the sector. Speaking at the Bangladesh Islamic Finance Summit 2025, Mansur explained that even the most successful Islamic bank in the nation had been financially depleted. The affected institutions are EXIM Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank.
The central bank dissolved all five boards and installed administrators earlier this month to create Sammilito Islami Bank. Mansur stressed that transparency and strong governance during the merger would be critical for its success and would ultimately strengthen the economy.
The three-day summit gathered regulators, Shariah scholars, banking professionals, and international delegates from Bahrain, Pakistan, Malaysia, and the United States to discuss governance improvements, financial inclusion, and implementing global Islamic finance standards in Bangladesh.
The central bank dissolved all five boards and installed administrators earlier this month to create Sammilito Islami Bank. Mansur stressed that transparency and strong governance during the merger would be critical for its success and would ultimately strengthen the economy.
The three-day summit gathered regulators, Shariah scholars, banking professionals, and international delegates from Bahrain, Pakistan, Malaysia, and the United States to discuss governance improvements, financial inclusion, and implementing global Islamic finance standards in Bangladesh.
