Acquiring Company
Sammilito Islami Bank PLC
Acquired Company
Global Islami Bank
DhakaDhakaFinancial ServicesFinanceLendingBankingFinancial ServicesFinanceLendingBankingDescription
Sammilito Islami Bank PLC has officially commenced operations following the merger of five private Sharia-based banks. The Bangladesh central bank has transferred control of these banks to the new entity. Sammilito Islami Bank will now operate with a significantly expanded infrastructure, encompassing numerous branches and banking outlets across the country. This marks a significant consolidation in the banking sector aimed at addressing financial sustainability.
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Based on deal dataFrequently asked
Who acquired Global Islami Bank?
Global Islami Bank was acquired by Sammilito Islami Bank PLC, based in Dhaka. The deal was reported on August 16, 2026. Sammilito Islami Bank PLC is the largest state-owned Islamic bank in Bangladesh. It was formed from the merger of five Shariah-based banks. The bank aims to protect depositors and restore financial stability. Sammilito Islami Bank PLC is privately held and operates in Financial Services.
When did Sammilito Islami Bank PLC acquire Global Islami Bank?
Sammilito Islami Bank PLC's acquisition of Global Islami Bank was reported on August 16, 2026. Sammilito Islami Bank PLC has officially commenced operations following the merger of five private Sharia-based banks. The Bangladesh central bank has transferred control of these banks to the new entity. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Global Islami Bank do?
Global Islami Bank is a financial institution in Bangladesh providing a range of banking services adhering to Islamic principles. The bank has been a significant player in the local banking sector. It is privately held, operating in Financial Services, and is based in Dhaka.