Dhaka, Aug. 14 -- Bangladesh Bank's initiative to merge 5 crisis-prone Shariah-based banks has got momentum, and within a week, this is likely to be implemented, governor Dr. Ahsan H. Mansur told a group of journalists on Monday after a meeting with the officials of different banks.

Economists termed this an important event in the financial sector of Bangladesh. They believe that the government's decision to merge five weak banks could be a crucial step toward reforming the country's beleaguered banking sector.

However, experts are also raising concerns about potential political challenges and the need for a comprehensive strategy beyond just consolidation.

The banks set for the merger are First Security, Global, Union, Social Islami, ...