Sammilito Islami Bank Depositors Can Withdraw Funds as Needed from Sept 1: BB

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Publish : 25 Aug 2026, 02:03 PM

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Bangladesh Bank Governor Md. Mostaqur Rahman on Tuesday directed the management of Sammilito Islami Bank PLC to allow individual depositors to withdraw funds based on their needs starting September 1, 2026.

The newly established state-owned bank—formed through the merger of five previously troubled Islamic financial institutions—will enable account holders to access principal amounts beyond the parameters set by earlier guidelines.

The central bank chief issued the instructions during a high-level meeting at the central bank headquarters in Dhaka with Sammilito Islami Bank Chairman Kazi Sharul Hassan and Managing Director Abedur Rahman Sikdar.

Bangladesh Bank Deputy Governors Dr. Md. Habibur Rahman, Dr. Md. Kabir Ahammad, Md. Saroar Hossain and Md. Anisur Rahman were also present.

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Governor Rahman provided three key directives to the bank’s top leadership to restore depositor confidence and normalize operations:

No Haircut on Profits: The central bank instructed management to explicitly communicate to all account holders that there will be no "haircut" on their accrued profits. The directive aims to eliminate persistent confusion among depositors, aligning with the official confirmation previously announced by the Finance Minister in the National Parliament that no profit haircut would be imposed.

Enhanced Withdrawal Access: While fund returns are currently being processed under the recovery scheme announced on December 29, 2025, the bank must implement necessary arrangements starting Tuesday, September 1, 2026, allowing individual depositors to withdraw principal funds from their Al-Wadeeah Current Accounts, Mudaraba Savings Accounts, and Mudaraba Term Deposits based on their immediate needs, exceeding the limits outlined in the previous framework.

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

With Inputs from UNB

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