Sammilita Islami Bank PLC has officially commenced the disbursement of funds to depositors. Under the initial phase, individuals who submitted withdrawal applications on 1 September are receiving their funds. Savers who submitted requests on subsequent dates are being advised to await their scheduled collection slots according to the bank’s structured timeline.
Branch officials confirmed that adequate cash reserves have been supplied across the network to meet customer demand. To accommodate urgent personal circumstances, management has introduced flexibility, permitting early payouts on a discretionary basis.
At the Nayapalton branch—formerly belonging to Global Islami Bank—a female customer seeking an emergency withdrawal of Tk 20,000 for her child’s medical treatment was granted early payment by the branch manager, despite having applied on 3 September. Conversely, other visiting clients were instructed to return on their assigned dates; one customer who applied on 3 September was requested to wait an additional two days in accordance with the queueing protocol.
Prior to releasing funds, bank personnel are conducting thorough background checks to confirm that applicants hold no outstanding default loans. Staff are utilizing a dedicated digital verification platform to check applicant credit histories across all five constituent entities that formed the merged institution. Individuals clear of non-performing loan liabilities are permitted to draw funds up to the established limit.
The repayment process is being closely monitored by Bangladesh Bank. The central bank orchestrated the consolidation of five troubled Shariah-compliant lenders—First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, and EXIM Bank—into the state-backed Sammilita Islami Bank PLC to stabilize the sector following severe liquidity shortages and high non-performing loan ratios.
With full state ownership and direct central bank oversight, officials have urged depositors to refrain from panic withdrawals, reassuring the public that customer capital remains fully secured under the government-backed resolution framework.
