The Dhaka Stock Exchange (DSE) has suspended trading of shares of five Islamic banks currently undergoing a consolidation process.
In a notice issued Thursday (6 November), the DSE halted transactions of First Security Islami Bank, Social Islami Bank (SIBL), EXIM Bank, Global Islami Bank, and Union Bank. The suspension will remain in effect until further notice.
According to the DSE, the move follows Section 15 of the Bank Resolution Ordinance, 2025, under which the banks were declared non-operational from 5 November. The exchange said the banks informed them that Bangladesh Bank issued a letter on 5 November stating that the banks will now be governed under the Bank Resolution Ordinance, 2025. Another letter from Bangladesh Bank dissolved the boards of directors of these banks.
Meanwhile, in a press conference on Wednesday, Bangladesh Bank Governor Dr. Ahsan H. Mansur stated that the equity value of shareholders in the five banks is now below zero, and the shares will be considered worthless. He added that no compensation will be provided to anyone.