Shares trading halted for 5 Islamic banks following operational shutdown

The Dhaka Stock Exchange (DSE) has suspended share trading of five Islamic banks currently undergoing a merger process.

In a notice issued on Thursday (November 6), DSE said trading of First Security Islami Bank, Social Islami Bank (SIBL), EXIM Bank, Global Islami Bank, and Union Bank will remain suspended until further announcement.

According to the DSE, the banks were declared non-operational effective on November 5 under Section 15 of the Bank Resolution Ordinance 2025.

Bangladesh Bank also instructed that the institutions be managed under the same ordinance, dissolving their respective boards of directors.

Bangladesh Bank Governor Dr. Ahsan H. Mansur said at a press conference Wednesday that the equity value of shareholders in the five banks has fallen below zero. As a result, the shares will be valued at zero, with no compensation to shareholders.