Bangladesh Bank Governor Dr Ahsan H Mansur announced that the merger of five private sector Islamic banks is at the final stage, assuring that no employee would lose their job due to the process.

Speaking to a group of journalists at the Bangladesh Bank Boardroom on Sunday, the Governor said, "This merger has no connection with the elections. It is an ongoing process. We hope the next government will continue to advance this process. However, we will not wait for the elections; the five Islamic banks will be merged within the next few months."

Some troubled Islami banks to merge under state ownership: BB Governor

The five banks set to be merged are First Security Islami Bank, Global Islami Bank, Union Bank, Social Islami Bank and EXIM Bank.

Dr Mansur emphasised that employees had no reason to worry. Some branches may be reorganised if necessary. "For banks with a higher concentration of branches in urban areas, initiatives may be taken to relocate some branches to rural areas," he added.

In response to a question regarding the repatriation of laundered assets, the Governor said, "The process of recovering assets is a long-term and step-by-step procedure. It is not possible to recover these funds without a final court verdict. For this, specific information and data must be collected, and proper legal procedures followed."

He went on to say, "We want our claims to be verified through the court. Action to recover funds can only be taken based on court decisions."

Forex reserves targeted to hit $30bn by June: BB Governor

Dr Mansur also highlighted the Alternative Dispute Resolution (ADR) method, stating, "The path for asset repatriation through amicable settlement outside court is also open. In such cases, lawyers from both sides will seek solutions through discussion. Bangladesh Bank will prepare accordingly and appoint lawyers based on the path the government determines—be it through court or ADR."

The Governor mentioned that preparations are underway to conduct legal proceedings in domestic courts for the recovery of local assets and in relevant foreign courts for the recovery of overseas assets.