18,000 customers apply to withdraw Tk 1,300 crore from Sammilito Islami Bank

Around 18,000 customers applied to withdraw their deposits from Sammilito Islami Bank on the first day of accepting withdrawal applications on September 1, with the total amount sought reaching Tk 1,300 crore.

Customers crowded branches and sub-branches of the newly formed bank as the application process began. Bank officials welcomed the depositors and assisted them in submitting their applications.

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The Daily Star learned this from officials of the bank, which was formed through the merger of five crisis-hit banks.

Submissions of individual applications for deposit withdrawals started at the branches and sub-branches of the bank on September 1. However, the bank plans to start making payments to eligible customers from September 7 after completing the verification and scrutiny of their applications.

Abedur Rahman Sikder, managing director and chief executive officer of the bank, said at an internal meeting that, out of 84 lakh customers, the bank received withdrawal applications from only around 18,000 customers.

He added that a small number of customers were also seeking to close their accounts.

“These are normal transactions. Therefore, it can be said that not many customers are looking to withdraw their money,” he said.

Sammilito Islami Bank was formed through the merger of five troubled Islamic banks—EXIM Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank.