BB issues 3 key instructions to Sammilito Islami Bank

Bangladesh Bank Governor Md. Mostaqur Rahman has directed the management of Sammilito Islami Bank PLC, formed out of the merger of five previously troubled Islamic banks, to allow individual depositors to withdraw funds as needed starting September 1, 2026.

The direction came during a meeting between the central bank governor and Sammilito Islami Bank Chairman Kazi Sharul Hassan and Managing Director Abedur Rahman Sikdar at the central bank headquarters on Tuesday (25 August).

Bangladesh Bank Deputy Governors Dr. Md. Habibur Rahman, Dr. Md. Kabir Ahammad, Md. Saroar Hossain, and Md. Anisur Rahman was also present at the meeting.

During the meeting, the governor issued three key instructions to the bank's top management:

No Haircut on Profits: The bank management must explicitly inform all depositors that there will be no "haircut" on their profits. The central bank emphasized providing this clarity, noting that some confusion persists among depositors despite the Finance Minister's announcement in the National Parliament confirming that no profit haircut would be imposed.

Enhanced Withdrawal Access: While fund returns are currently being executed under the scheme announced on December 29, 2025, the bank must take necessary measures from Tuesday, September 1, 2026, to allow individual depositors to withdraw principal amounts from their Al-Wadeeah Current Accounts, Mudaraba Savings Accounts, and Mudaraba Term Deposits based on their needs, exceeding the guidelines provided in the earlier scheme.

Resumption of Normal Operations: As the country's largest and only state-owned Islamic bank—launched with a capital of Tk 35,000 crore—Sammilito Islami Bank PLC must take immediate steps to resume full normal banking operations at the earliest possible time.

Source: UNB NEWS