Bank consolidation to continue; governor instructs strict recovery of default loans

PNN News Desk, Dhaka 

Bangladesh Bank Governor Mostakur Rahman stated that bank consolidation will continue. He instructed administrators to adopt all measures to recover default loans and revive closed factories under legal procedures.

The consolidation involves Union Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and EXIM Bank, which have merged to form ‘Combined Islami Bank’. This move aims to stabilize the banking sector, boost employment, and restore confidence in financial institutions.