Banks will merge, there is no need to panic, said Bangladesh Bank Governor Ahsan H. Mansur. He said that the discussion on bank merger is an ongoing process. In this, deposits will be safe and secure. The government will take responsibility for depositors. By when which bank will merge with whom, it will be officially announced. However, depositors have nothing to panic about this. Everyone will get their money back.

The Governor of Bangladesh Bank said this in response to a question at the announcement of the agricultural and rural credit policy of Bangladesh Bank on Tuesday. Governor Ahsan H. Mansur met with the chairmen of four of the five banks under merger talks. The banks are First Security Islami Bank, Social Islami Bank, Union Bank and Global Islami Bank. Exim Bank was not present at the meeting.

It is learned that this meeting is being held continuously as a step to start the formal process of bank merger. Through this, discussions are underway on how much money may be required for the merger and what the steps may be. Bangladesh Bank will soon write a letter to the government with the demand for money. Information is being collected for this.

Bangladesh Bank wants to merge five Islamic banks by October. This was the first official message given at a meeting of the banks' chairmen and managing directors in June.

Bangladesh Bank has already had its assets evaluated by an international auditing firm for the purpose of merging the five banks. In this evaluation, 26,491 crore taka or 97.80 percent of the total loans of Union Bank have been identified as defaulters. First Security Islami Bank has 58,182 crore taka or 96.37 percent defaulters. Global Islami Bank has 13,569 crore taka or 95 percent defaulters. Social Islami Bank has 23,575 crore taka or 62.30 percent defaulters. And Exim Bank has 25,101 crore taka or 48.20 percent defaulters. However, Exim Bank does not want to merge. In the meantime, the bank has expressed its objections.