Dhaka, Nov. 6 -- Bangladesh Bank on Thursday said under existing law, there is currently 'no scope' to directly protect the interests of general investors or shareholders during the merger process of the five banks but government may consider providing compensation to small investors or shareholders.

The debate over the future of small shareholders in five Islamic banks undergoing a government-directed merger deepened on Thursday, following a clarification issued by Bangladesh Bank (BB).

The statement came a day after Governor Ahsan H. Mansur said that the value of all shares in the five banks had effectively dropped to "zero", sparking controversy.

Mansur reportedly noted that shares with a face value of Tk 10 had fallen to Tk 420 in ...