Trading of shares of five Islamic banks has been suspended on both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) as part of their ongoing merger process.

In separate notices issued on Thursday, both bourses announced the suspension of trading for First Security Islami Bank, Social Islami Bank (SIBL), EXIM Bank, Global Islami Bank, and Union Bank until further notice.

The decision follows the banks being declared non-operational under Section 15 of the Bank Resolution Ordinance, 2025, effective from November 5.

According to the exchanges, Bangladesh Bank, in a letter issued on November 5, instructed that the five banks be governed under the provisions of the Bank Resolution Ordinance, 2025, and subsequently dissolved their boards of directors.

Bangladesh Bank Governor Dr. Ahsan H. Mansur said at a press conference on Wednesday that the shareholders’ equity value of these banks had fallen below zero.

The value of their shares is effectively zero, and no compensation will be provided to anyone,” he stated.