A total of 74,221 applications have so far been submitted by depositors seeking to withdraw their funds from Sammilito Islami Bank PLC, the newly formed bank created through the merger of five troubled Islamic banks.
According to the applications, depositors have sought to withdraw a combined Tk 3,925 crore. However, the number of applications and the amount requested are significantly lower than initially feared following the formation of the new bank.
Bank authorities said the relatively low number of withdrawal requests indicates that customers continue to have confidence in the newly formed institution.
According to bank data, 18,046 applications were submitted on the first day, involving Tk 1,329 crore in requested withdrawals.
On the second day, 19,613 applications were submitted for Tk 1,016 crore. Subsequently, 21,086 applications were submitted for Tk 923 crore, while another 15,476 applications sought to withdraw Tk 657 crore.
The combined figures brought the total number of applications to 74,221, with the requested withdrawal amount reaching Tk 3,925 crore.
Md Abedur Rahman Sikder, managing director and chief executive officer of Sammilito Islami Bank, said the comparatively low number of withdrawal applications reflects depositors’ confidence in the bank.
He said it also demonstrates customers’ trust in the bank's ability to protect their interests and safeguard their deposits.
According to Sikder, depositors who choose to keep their money with the bank will receive profit at the rates specified in their respective agreements.
He added that once the bank’s overall operations return to normal, depositors will be able to deposit and withdraw funds, including profits, in accordance with existing rules and regulations.
The Bangladesh Bank’s Bank Resolution Department issued guidelines regarding deposit withdrawals on August 31.
Following the merger of five troubled Islamic banks, Sammilito Islami Bank began accepting applications from individual account holders to withdraw their principal deposits on September 1.
September 6 was the final day for submitting applications.
The relatively limited withdrawal demand compared with the total number of depositors is being viewed by the bank authorities as an encouraging sign for the stability and credibility of the newly established institution.
