Forensic Audit to Trace Irregularities at Sammilito Islami Bank, Says BB Governor

Bangladesh Bank will appoint an external firm within days to conduct a forensic audit of the five private banks recently merged into Sammilito Islami Bank. Governor Ahsan H. Mansur announced Monday that the audit will trace siphoned funds and identify the ultimate beneficiaries of past irregularities.

Rather than conducting a direct internal investigation, the central bank will use the audit’s findings to assist state agencies in filing criminal charges. When asked if Bangladesh Bank officials might face scrutiny, Mansur emphasized there would be no interference. "Whoever is involved, regardless of position, will be identified and brought under the law," he said.

Operations and Withdrawals The newly formed bank, which received its license on Dec. 1, launched with a paid-up capital of Tk 350 billion, including Tk 200 billion from the government. In its first two days, the bank saw Tk 1.07 billion in withdrawals and Tk 440 million in new deposits.

Mansur clarified that while existing deposits remain subject to withdrawal caps, new deposits are fully accessible. "Depositors can transact any amount from new deposits, including withdrawing the full sum," he added.

Merger Details The merger includes the formerly distressed Exim Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank. Under the "Bank Resolution Scheme 2025," all employees will be retained unless they face specific allegations or legal cases.

Current withdrawal limits allow customers to take out up to Tk 200,000 initially, followed by a monthly limit of Tk 100,000 for the next three months. Borrowers may take loans of up to 20% against old deposits and 80% against new deposits.

Despite initial warnings from consultants, Mansur expressed confidence in the transition. "The data we are receiving is strengthening our confidence," he said.