The finance ministry has said, the campaign will harm investors if the five Shariah-based banks are merged, it will be “full rumours and baseless”. Instead, the government is seriously scrutining the interest of the investors.
The finance ministry said , a vested quarter is spreading rumours on social media that investors will be affected in the process of imunification of five Islami banks. This is the government's attention and the government has not taken any decision that undermines the interests of investors. The government is seriously scrutinizing the interest of its investors in the process of intergating the bank.
The Ministry has urged all to be careful about such misinformation.
The Interim Advisory Council on Thursday (October 9th) approved a proposal to merge five private banks in crisis and a new Shariah-based bank will now be formed with First Security Islami Bank, Global Islami Bank, Union Bank, Exim Bank and Social Islami Bank.
The names of the new banks name proposed for two ‘United Islamic Bank’ and ‘Collective Islamic Bank’ and will be run on a commercial and professional basis.
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