Customers withdraw money from Sammilit Islami Bank, getting advance facilities for urgent needs

After a long wait, the process of returning money to individual depositors of Sammilit Islami Bank has started. From Monday (September 7), customers can withdraw the principal part of their deposits as per the prescribed rules.

According to bank sources, applications for the return of deposit money have started from September 1. Customers who applied in the initial stage are being refunded after verification and selection. Customers who apply later have the opportunity to receive money according to the prescribed time.

Customers withdrawing money from branch to branch

According to bank officials, necessary money has been arranged in different branches according to the needs of customers. As a result, customers are able to withdraw their deposits from their respective branches by following the prescribed process.

However, some customers are being given the opportunity to withdraw money even before the prescribed time in case of special urgent need. At the Nayapaltan branch in the capital, a female customer was allowed to withdraw Tk 20,000 on an emergency basis when she informed that her child was sick.

On the other hand, some customers who came to withdraw money before the prescribed time have been asked to wait. They have been informed that the money will be returned at a later date according to the date of their application.

Loan verification is being done before giving the money

Bank officials said that before returning the deposit money, the customer's loan information is being verified. Whether the customer has defaulted loans in any of the five merged banks is being verified through a specific app.

If a customer does not have defaulted loans, arrangements are being made to return the principal of his deposit as per the rules. The entire process is being supervised by Bangladesh Bank.

Sammilit Islami Bank formed by merging 5 banks

Sammilit Islami Bank has been formed by merging five Islamic banks that have been in financial crisis for a long time. The banks are Exim Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank.

The total deposits of about 7.6 million depositors of these five banks are about 1 lakh 42 thousand crore taka. Of this, about 15 thousand crore taka are in the savings accounts of individual depositors.

On the other hand, the total loan amount of the merged banks is about 1 lakh 92 thousand crore taka and a large part of it has become defaulted loans.

Customers urged not to panic

Bank officials have urged customers not to panic and keep their deposits. According to them, the government has taken responsibility for the bank and Bangladesh Bank is monitoring the entire operation. As a result, they have assured that there is no reason for depositors to panic about the refund of their money.

Meanwhile, in the case of individual depositors, the principal amount of the deposited money is being returned initially. The issue of payment of profit against the deposit will be implemented at a later stage.