Money deposited by individuals and institutions with banks, which have decided to go for mergers, will remain completely safe and secure, Bangladesh Bank said in a statement yesterday.
The board of directors of BDBL approved the merger plan in an emergency meeting on April 8, said Md Habibur Rahman Gazi, managing director and CEO of the bank.
Questions have been raised as to why so many banks in Bangladesh are being merged at the same time. Some indicate that given the size of the Bangladesh economy, the number of banks in the country has exceeded the optimal level.
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