Applications open for deposit withdrawals from Sammilito Islami Bank

Sammilito Islami Bank has started accepting applications from depositors to withdraw their funds from today. Customers will be able to withdraw their principal deposits in a lump sum from September 7.

According to Bangladesh Bank’s directive, regular individual transactions with the bank are scheduled to resume today. Depositors will be allowed to withdraw the principal amount they had kept with the transferring banks from their own funds. However, any profit payable or accrued on the deposits will not be covered under the facility.

The bank needs several days to complete preparations, including requisitioning cash for its branches and sub-branches, ensuring cash supplies from Bangladesh Bank and putting in place secure cash-management arrangements. Full-scale repayment of deposits will begin on September 7, according to sources.

sks