Bank Merger: GIB Chairman Agrees, Some Former Directors Oppose

Global Islami Bank PLC (GIBPLC) has expressed its consent to the ongoing merger process under the banking sector reform initiative. After a Bangladesh Bank hearing on Thursday morning, the bank’s chairman, Mohammad Nurul Amin, confirmed the decision.

However, four former NRB directors and an NRB sponsor shareholder of GIB have submitted a letter to the Bangladesh Bank governor voicing their opposition to the merger.

Earlier, Union Bank and First Security Islami Bank agreed to merge. Exim Bank, on the other hand, has not consented at this stage, with its board stating that the bank would require at least two more years.

As part of its initiative to merge five weak banks, Bangladesh Bank has organized a week-long hearing, in which Union, First Security, Exim, Global Islami, and Social Islami Bank have already participated.