Staff Correspondent:

A writ petition has been filed at the High Court questioning the legality of the government decision to merge five troubled private banks.

Barrister Mahsib Hossain filed the writ petition on behalf of Shahidul Islam, a general investor of one of the concerned banks on Tuesday (November 18 ).

The Bangladesh Bank governor, the finance secretary, and other relevant officials have been made respondents in the petition.

The writ sought direction to formulate protective measures and ensure adequate measures to issue shares to the general shareholders, including the petitioner, in the proposed Sammilito Islami Bank as per their shareholding in First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank and EXIM Bank.

Earlier, on 9 October, the Advisory Council of the interim government approved the proposal to merge the five crisis-hit private banks. The plan is to form a new Shariah-based bank by combining First Security Islami Bank, Global Islami Bank, Union Bank, EXIM Bank, and Social Islami Bank.

Two names have been proposed for the new entity — United Islamic Bank and Sammilito Islami Bank. According to officials, the new bank will operate on commercial and professional principles.