BB officials said the central bank decided to set up an office at Sena Kalyan Bhaban in Motijheel to oversee the process.

Bangladesh Bank plans to merge five troubled Islamic banks in what could be the country’s largest financial sector consolidation in recent memory. The formal merger process will begin in July and is expected to be completed by October 15, according to officials familiar with the plan.

Ahsan H Mansur stated that the country's Islamic banking sector would be completely restructured as most of the existing Islamic banks are currently in trouble.