Dhaka, April 27 -- Five former directors of Social Islami Bank Limited (SIBL) have formally applied to the central bank to reclaim their ownership and separate the entity from the recently formed state-owned Sammilito Islami Bank.

The move comes less than three weeks after the parliament passed the "Bank Resolution" Bill on Apr 11, which included a controversial Section 18(A) allowing former shareholders to regain ownership under specific conditions.

Rezaul Haque, who served as SIBL chairman from 2013 to 2017, led the application filed with Bangladesh Bank (BB) on Monday.

"We can manage the capital required to fix the bank. We have shared our plan and are ready to provide further details if the central bank engages with us," Haque told...