Sammilito Islami Bank depositors can withdraw funds from September
The governor directed the chairman and managing director of Sammilito Islami Bank to take necessary measures to protect depositors’ interests and resume normal banking operations at the earliest.
Depositors of Sammilito Islami Bank PLC will be able to withdraw money they need from their accounts from 1 September, while the bank will not impose any "haircut" on deposit profits, according to decisions taken at a meeting between Bangladesh Bank Governor Md Mostaqur Rahman and the bank's top officials today (25 August).
The decision marks a shift from the earlier plan under which a portion of the profits declared against deposits for 2004 and 2025 would not be paid.
The governor directed the chairman and managing director of Sammilito Islami Bank to take necessary measures to protect depositors' interests and resume normal banking operations at the earliest, according to a Bangladesh Bank press release.
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The meeting was held at Bangladesh Bank this morning with Sammilito Islami Bank Chairman Kazi Shairul Hasan and Managing Director Abedur Rahman Sikder.
Bangladesh Bank Deputy Governors Dr Md Habibur Rahman, Dr Md Kabir Ahmed, Md Sarwar Hossain and Md Anisur Rahman were also present at the meeting.
The governor gave the bank's chairman and managing director directives on three key issues.
First, he instructed the bank authorities to make it clear to all depositors that there will be no "haircut" on their profits.
He said there was still some confusion among depositors over the issue and instructed the bank to clarify the matter.
Second, the governor said money is already being returned to depositors in line with the scheme announced on 29 December 2025.
He further directed the bank to take necessary measures so that, from next Tuesday (1 September), individual depositors can withdraw money from Al-Wadiah current accounts, Mudaraba savings accounts and Mudaraba term deposits according to their requirements, beyond the provisions of the original scheme where necessary.
Finally, the governor instructed Sammilito Islami Bank, which has a capital base of Tk35,000 crore, to take all necessary steps to resume normal banking activities as soon as possible.
Sammilito Islami Bank was formed through the merger of five financially weak banks.
