Sammilito Bank: 18,000 seek fund withdrawals on first day

Around 18,000 customers applied to withdraw deposits totalling Tk 1,300 crore from Sammilito Islami Bank on the first day of accepting withdrawal applications, officials told The Daily Star.

Customers crowded the branches and sub-branches of the newly formed bank as applications opened on Tuesday, with bank officials assisting them in submitting the forms.

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The bank, however, will start making payments to eligible customers from September 7 after completing verification and scrutiny of the applications.

Officials familiar with the matter said Abedur Rahman Sikder, managing director and CEO of the bank, disclosed at an internal meeting that of the bank’s 84 lakh customers, around 18,000 had applied to withdraw their deposits.

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 at the meeting.

Sammilito Islami Bank was formed through the merger of five crisis-hit banks -- EXIM Bank, Union Bank, Social Islami Bank, First Security Islami Bank and Global Islami Bank.