Affected shareholders of 5 banks will get compensation: Dr Salehuddin

''But the process is complex and will need to be implemented step by step after careful calculation.''

When asked about his earlier statement that affected general shareholders would receive compensation during the merger of five Islamic banks, the Adviser said, ''Yes, I did say that. Now we will consider it. The governor has expressed his views in his own way. However, we have said clearly that all depositors, those who have money in the banks, will definitely get their funds back. Why was Tk 42,000 crore provided? The second issue concerns the shareholders.''

He said that the issue of shareholders is a technical one. In most cases, the banks' net asset value has turned negative, making compensation for shareholders a complex and technical matter. Technicians argue that shareholders bought the shares at their own risk, so why should compensation be given? Even so, shareholders may have purchased shares based on market signals. ''That's why I said, let us see how much can be done.''

Dr Salehuddin also highlighted the need to develop the capital market to reduce excessive dependence on banks for business financing.

''If we fail to develop the capital market, business and trade will not grow relying only on banks. Equity participation through the stock market and a strong bond market, especially for the private sector, are essential,'' he said, noting that regulatory reforms face legal hurdles and court challenges.