Customers withdraw Tk250cr as Sammilito Islami Bank begins deposit return

Sammilito Islami Bank began returning principal amounts to customers who applied to withdraw on 1 September. Around 6,000 customers collected Tk250 crore nationwide on the first day, against Tk1,329 crore sought by 18,000 applicants scheduled for repayment that day.

While 18,000 customers had applied to withdraw their deposits, only around 6,000 turned up to collect their money yesterday (7 September). The repayment process began after Bangladesh Bank provided the bank with Tk5,000 crore on 6 September to meet depositors’ withdrawal demands. Eligible customers received their money, with bank officials welcoming them with flowers and sweets.

Visits to several branches in the capital yesterday morning found that funds had been arranged according to customer demand, while some customers were being allowed early withdrawals in cases of urgent need.

Rahim Khan, manager of the Kakrail branch, formerly First Security Islami Bank, said 11 customers who applied on 1 September were scheduled to withdraw money yesterday. One had already collected the money, while the remaining 10 had been called to collect their deposits.

At the Paltan branch, formerly EXIM Bank, second officer Joynul Abedin said 17 customers had applied, but only two came to collect their deposits. “The two customers who came were given their full amounts,” he said.

At the Naya Paltan branch, formerly Global Islami Bank, Sharmin Jahan received Tk20,000 after applying on 3 September, ahead of schedule because her child fell ill. Another customer, Didar, who also applied on 3 September, was told to wait two more days.

Default loan verification via app

A bank official said customers’ loan status is being checked through a dedicated app using their NID numbers before withdrawals are approved. 

If defaulted loans are found, the matter will be referred to the relevant authority for a decision. Customers without defaults will receive funds under the rules, with Bangladesh Bank supervising the process.

The official urged depositors not to panic, saying the government had taken responsibility for the bank and their funds were safe.

Emergency withdrawals allowed

Saifuddin Ahmed Chowdhury, manager of the Naya Paltan branch, said sufficient funds had been arranged and Bangladesh Bank was monitoring the process round the clock. 

Customers applying on 2 or 3 September will wait one or two additional days, but urgent cases involving illness or other emergencies are being considered.

Chowdhury SM Atikur Rahman Haider, manager of the Bijoynagar branch, formerly of Union Bank, said large depositors can keep, withdraw or transfer funds through Real-Time Gross Settlement (RTGS), subject to loan-status checks.