Dhaka Stock Exchange (DSE) has suspended share trading of five Islamic banks that are in the process of merging.
The five banks are First Security Islami Bank, Social Islami Bank (SIBL), Exim Bank, Global Islami Bank and Union Bank, according to a DSE notice on Thursday.
The country's two stock exchanges informed the matter to investors this morning.
The suspension order will continue until further notice.
On Wednesday, Bangladesh Bank dissolved the boards of directors of these five banks and took over their responsibilities. Immediately after dissolving the boards, the central bank also appointed administrators to the banks.
Ahsan H. Mansur, governor of the central bank, at the press briefing said on Wednesday that the net asset value was between Tk 350 and Tk 420 in the negative per share for the troubled banks. Hence, the value of the share of both sponsor-shareholders and general shareholders will be considered as zero.
FP/MI
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