The Dhaka Stock Exchange (DSE) has suspended trading in shares of five Islamic banks that are in the process of merging.

DSE suspended trading in shares of First Security Islami Bank, Social Islami Bank (SIBL), Exim Bank, Global Islami Bank and Union Bank on Thursday (November 6) in a notice. Trading in the shares of the banks will remain suspended until further notice.

The reason for the suspension of trading, as stated by the DSE, is that banks have been declared non-functional since November 5, in accordance with Section 15 of the Bank Resolution Ordinance, 2025.

The DSE also said that the banks said that Bangladesh Bank had directed through a letter on November 5 that the banks would henceforth operate in accordance with the Bank Resolution Ordinance, 2025. Bangladesh Bank also dissolved the bank's board of directors through another letter.

Meanwhile, in a press conference on Wednesday, Bangladesh Bank Governor Dr. Ahsan H. Mansur said that the equity value of the shareholders of the five banks is now below zero. As a result, the value of the shares will be considered zero. No compensation will be given to anyone.