TDS Desk:

Bangladesh Bank has instructed that the share value of shareholders of five Shariah-based banks included in the newly formed United Islami Bank PLC be officially declared zero.

The decision was taken because the net asset value per share of the respective banks is negative.

Bangladesh Bank sent letters on Monday regarding this matter to First Security Islami Bank, Social Islami Bank, Global Islami Bank, Union Bank, and EXIM Bank.

Arif Hossain Khan, Executive Director and spokesperson of Bangladesh Bank, said, “This decision has been taken under the Bank Resolution Ordinance, 2025. The valuation shows that the net asset value per share of the five banks ranges from negative Tk 350 to Tk 420. As a result, the shares have been written down to zero.”