The government will make the final decision on the status of shareholders of the five Shariah-based banks proposed for merger, said Finance Adviser Dr Salehuddin Ahmed on Sunday.

The Bangladesh Bank governor’s statement is not final as the government will look into the matter, Dr Salehuddin said while talking to reporters after holding a series of meetings at the Bangladesh Secretariat.

Bangladesh Bank Governor Dr Ahsan H Mansur, at a press briefing on November 5, said the equity value of the five banks — First Security Islami Bank, Social Islami Bank (SIBL), EXIM Bank, Global Islami Bank and Union Bank — had fallen below zero.

As a result, he said, the shareholders would not receive any compensation for their shares.

Responding to questions on the issue, Dr Salehuddin said, “We have said we will examine the matter. What the governor has said is not the final word. The final decision will be taken by the government.”

When asked about the governor’s recent comment that his position should be elevated to the rank of a minister, the finance adviser declined to make any direct remark. “I will not comment on that. If any such proposal is sent to us, we will review it collectively and then respond.”

Dr Salehuddin also said issues related to the banking sector are a sovereign matter. “This is entirely within the jurisdiction of the Government of Bangladesh. Decisions on this will be made in accordance with our own laws and constitution. No external body can dictate this,” he added.