Customers have no reason to worry, govt will secure deposits: Sammilito Islami Bank chairman
He stated that the bank aims to start operations soon, focusing on the SME and CSME sectors
Sammilito Islami Bank Chairman Dr Mohammad Ayub Miah has said the funds of the bank's customers are safe, as the government is committed to securing all deposits.
"There is no reason to worry. The government owns this bank and will secure all deposits," he said after the first board meeting today (17 December).
He stated that the bank aims to start operations soon, focusing on the SME and CSME sectors.
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Ayub Miah said, "Today's meeting also approved our logo and the slogan: 'A prosperous future with combined strength.'"
He assured customers saying, "With a capital of Tk35,000 crore, including Tk20,000 crore already provided, we are fully prepared financially. Deposit insurance payments will also be made this month. Developing unified software and IT systems across the merged banks will take some time, but operations will start soon."
At the meeting, Bangladesh Bank Governor Ahsan H Mansur said the bank will launch operations quickly to allow regular transactions.
He emphasised strict action against dishonest officials responsible for previous losses and fair treatment for honest staff.
A unified salary structure will also be introduced for all employees, he added.
Seven directors, including the chairman, met with the finance secretary after the board meeting to update him on progress.
A notification for appointing the new managing director has been issued, and the appointment is expected within this month.
The Sammilito Islami Bank PLC has been formed through the merger of five Shariah-based banks.
