Dhaka, Nov 06 (V7N)- The Bangladesh Securities and Exchange Commission (BSEC) has suspended share trading of five Sharia-compliant banks that are currently in the process of merging. The decision was communicated to investors by the country’s two stock exchanges on Thursday (November 6) morning.

Earlier, Bangladesh Bank dissolved the boards of directors of these banks and appointed administrators. Governor Ahsan H. Mansur declared the share prices of these banks to be zero, warning that shareholders would not receive any returns given the current financial situation.

Following the announcement, investors raised multiple concerns in the stock market. In response, BSEC took the step to suspend trading of the five banks’ shares.

Meanwhile, the Capital Market Investors’ Unity Council has protested the decision to zero the share prices, urging the governor to retract his statement.

END/SMA/AJ