Dhaka, Dec 18 (V7N) – Combined Islami Bank, formed through the merger of Exim, First Security, Social Islami, Global Islami, and Union banks, has officially commenced its operations, with the first board meeting held on Wednesday. Discussions focused on the swift implementation of the Bank Resolution Ordinance.

The bank’s Chairman, Dr. Mohammad Ayub Mia, said efforts are underway to integrate the software systems of the five banks and transfer manpower to Combined Islami Bank, ensuring that normal transactions resume quickly. He assured that depositors will be able to withdraw their funds within this month, with priority given to those with balances under Tk 200,000, cancer or kidney patients, and others in urgent need of funds.

Regarding staff, Dr. Mia stated that no decision has yet been made about layoffs, but actions will be taken against those found guilty of irregularities or mismanagement, following investigations. “Our policy is not to reduce employees indiscriminately, but to hold accountable those responsible for past mismanagement and corruption,” he said.

He also announced that the recruitment process for key positions, including the Managing Director, will be completed this month, and expressed optimism that Combined Islami Bank will achieve a turnaround within three years.

Dr. Mia highlighted that the new bank, established with government and Bangladesh Bank support, aims to become the largest Islamic bank in Bangladesh, both in terms of capital and operational reach. “We are committed to creating a strong institutional structure for the Islamic banking system and are confident of success in this endeavor,” he added.

The bank’s logo, letterhead, and signboards have been finalized, marking the beginning of its formal operations.

END/SMA/AJ