Trading of shares in five Shariah-based banks was suspended today following Bangladesh Bank’s decision to appoint administrators and initiate their merger into a new entity, as part of a wider effort to stabilise the country’s troubled financial sector.

The Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) announced that shares of First Security Islami Bank, Social Islami Bank, Union Bank, Exim Bank, and Global Islami Bank will remain suspended from trading until further notice.

The move comes after the central bank formally declared the five institutions “non-viable” with effect from 5 November 2025, under Section 15 of the Bank Resolution Ordinance, 2025.

At a press briefing on Tuesday, Bangladesh Bank Governor Dr. Ahsan H. Mansur stated that shareholders of the five banks would not receive any equity in the new merged institution, as the value of their existing holdings had effectively become negative.

He said that while the face value of each share was Tk 10, the central bank’s assessment found the net asset value (NAV) to be negative—between Tk 3.50 and Tk 4.20 per share.

“The central bank is not taking them into consideration, as they hold zero liability,” Dr Mansur said. “No shareholder of the merged banks will get anything.”

The merger process will combine the five financially distressed lenders into a new entity named Sammilito Islami Bank, which is expected to become the largest Islamic bank in the country once operational.

All five banks’ shares were actively traded on Tuesday before the suspension took effect this morning.