Dhaka, Sept. 28 -- Bangladesh Bank (BB) has finalised five proposed names as administrators for the Shariah-based banks that are under consideration for a merger.

According to a source at Bangladesh Bank, the names were selected on Sunday.

Md Shawkat Ullah Alam, Executive Director of the central bank, has been proposed as administrator for EXIM Bank, while another Executive Director, Muhammad Badiul Alam Didar, has been proposed for Social Islami Bank (SIBL).

Three directors have been proposed for the remaining banks: Md Salahuddin for First Security Islami Bank (FSIBL), Mohammad Abul Hashem for Union Bank, and Maksudul Alam for Global Islami Bank.

Officials said the central bank is moving ahead to appoint administrators and merge the...