Bangladesh Bank Governor Md Mostakur Rahman said that the initiative to merge the country's weak banks will continue.
He further said that all alternative measures will be implemented to recover defaulted loans and initiatives will be taken to reopen closed factories within the rules.
The governor gave this message at a meeting held with the administrators of the five merged banks at Bangladesh Bank on Tuesday (March 3). Currently, the administrators of these banks are Bangladesh Bank officials and they are managing the banks.
The new governor took charge last Thursday. The previous governor, Ahsan H Mansur, was dismissed last Wednesday.
After the fall of the Awami League government, Mansur took initiatives to merge weak banks and reform them.
The new governor made it clear that these initiatives will continue.
He was informed about the reasons and process of the merger in the meeting.
He said that initiatives should be taken to increase deposits and all possible alternative measures should be taken to recover defaulted loans. In addition, the closed factories should be opened within the rules, so that employment increases.
Preparations are underway to appoint a managing director in the merged bank soon.
It is known that this merger includes Union, First Security Islami, Global, Social Islami and Exim Bank. Sammilito Islami Bank has been formed by merging them. Exim Bank was previously controlled by Nazrul Islam Majumder and the remaining four banks were controlled by Chittagong businessman Saiful Alam and S Alam Group.
The head office of the new bank has been set up in Sena Kalyan Bhaban in Motijheel, the capital. The government has already appointed a chairman and a board of directors for the bank.