A writ petition has been filed with the High Court challenging the legality of the government’s decision to merge five crisis-hit private banks.
Barrister Mahsib Hossain filed the petition on Tuesday on behalf of Shahidul Islam, a general investor in one of the banks.
The writ names the Bangladesh Bank governor, the finance secretary, and other relevant authorities as respondents.
On October 9, the interim government’s advisory council approved the proposal to merge First Security Islami Bank, Global Islami Bank, Union Bank, Exim Bank, and Social Islami Bank into a single Shariah-based entity.
Two names — United Islamic Bank and Sammilito Islami Bank — have been proposed for the new institution, which officials say will operate on commercial and professional standards.
The meeting, held at the chief adviser’s office in Tejgaon and chaired by Chief Adviser Professor Muhammad Yunus, endorsed the plan.
Following the meeting, the chief adviser’s press secretary Shafiqul Alam told a press briefing at the Foreign Service Academy that no employee would lose their job and no depositor would lose their savings as a result of the merger.