The five Shariah-based Islamic banks undergoing merger are expected to be renamed “Combined Islamic Bank” within the next few days.

Following the renaming, all signboards of the five banks across the country will be replaced. Before the signboards are changed, Bangladesh Bank will announce when depositors may begin withdrawing their money.

Sources at Bangladesh Bank have confirmed these.

Bangladesh Bank is preparing to announce a programme or scheme for the newly consolidated bank, including information about the return of depositors’ funds.