A strategy for bank mergers will be developed by Bangladesh Bank (BB) to provide the greatest financial governance.

The details were disclosed today at the central bank offices in the city during a meeting between BB Governor Abdur Rouf Talukder and a group of the Bangladesh Association of Banks (BAB), headed by its Chairman Nazrul Islam Mazumder.

Mezbaul Haque, the executive director and spokeswoman for BB, stated following the meeting: "We resolved to consolidate banks for the benefit of the banking sector, if necessary. We'll analyze the entire problem and then create a policy."

By March of next year, he claimed, the government would be able to identify weak banks."After that, it will be decided which banks should be combined. Then, taking into account the policies decided upon in light of the general concerns, the procedure will begin," he continued.

Additionally, he stated, "We have instances from several nations... Bank mergers were typically the result of the owners' initiative. Occasionally, the regulatory body makes the decision. We also desire the owners' decision. If a decision is required, we shall make it.

Nazrul Islam Mazumder stated that BAB will approve the action if it serves the interests of the country, citing several instances of bank mergers in other nations.

"We will accept the decision of the central bank in the national interest," he stated.

End//voice7news.tv