Depositors at the newly established Sammilita Islami Bank are demonstrating unexpected restraint despite gaining long-awaited access to their funds. More than 70 per cent of account holders who formally requested withdrawals have chosen to leave their money in place, whilst fresh deposits continue to flow into the institution.
Data from the bank reveals that between 1 and 10 September, 124,877 customers submitted applications to withdraw a cumulative total of 5,511 crore BDT. However, only 35,907 individuals ultimately collected their funds, taking out 1,431 crore BDT. This leaves almost 71 per cent of applicants retaining their savings with the lender, signalling a swift stabilization in sentiment following initial liquidity concerns.
| Date | New Deposit Applications (Crore BDT) | Actual Withdrawals (Crore BDT) | Customer Withdrawals | Fresh Daily Deposits (Crore BDT) | Accumulated Liquidity Impact | Clearing System Status | Operational Branch Target | Sub-Branch Network | Total Staff Burden | Non-Performing Loan Exposure (Crore BDT) |
| 1 September | 1,325 | – | 18,046 applied | – | Negative | Restricted | 759 | ~700 | ~16,000 | 169,850 |
| 2 September | 1,016 | – | 19,613 applied | – | Negative | Restricted | 759 | ~700 | ~16,000 | 169,850 |
| 7 September | – | 319 | 8,125 processed | 141 | Positive net flow | Active (RTGS/BEFTN) | 759 | ~700 | ~16,000 | 169,850 |
| 8 September | – | 340 | 7,234 processed | 195 | Positive net flow | Active (RTGS/BEFTN) | 759 | ~700 | ~16,000 | 169,850 |
| 9 September | – | 381 | Batch processed | 244 | Positive net flow | Active (RTGS/BEFTN) | 759 | ~700 | ~16,000 | 169,850 |
| 10 September | – | 391 | Batch processed | 314 | Positive net flow | Active (RTGS/BEFTN) | 759 | ~700 | ~16,000 | 169,850 |
Initial anxiety sparked a sharp rush for funds at the start of the month. On 1 September alone, 18,046 clients applied to retrieve 1,325 crore BDT, though only 8,125 of those applicants processed withdrawals totalling 319 crore BDT when payouts commenced on 7 September. A similar pattern emerged the following day, when 7,234 customers withdrew 340 crore BDT from an earlier pool of 19,613 applicants. Payouts settled at 381 crore BDT and 391 crore BDT on subsequent days.
Simultaneously, incoming capital has surged. Over a four-day window from 7 to 10 September, the bank secured 894 crore BDT in new deposits, rising steadily from 141 crore BDT on the first day to 314 crore BDT by the tenth.
Sammilita Islami Bank was formed through the merger of five troubled Islamic institutions: EXIM Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank, and Union Bank. To facilitate the transition, Bangladesh Bank provided a special liquidity support package of 5,000 crore BDT. Although central regulators initially considered imposing a haircut on account balances, the proposal was ultimately scrapped, allowing individual retail depositors unrestricted access to their funds from 7 September.
Managing Director Md. Abedur Rahman Sikder confirmed that branch staff contacting applicants were frequently told that customers no longer wished to pull out their funds, reflecting a widespread return of trust. Operational channels, including RTGS, BEFTN, and general clearing operations, have resumed normal functionality.
Industry experts caution that structural hurdles remain. The consolidated entity inherits roughly 16,000 employees, 759 branches, and nearly 700 sub-branches, requiring substantial restructuring to control operational expenditure. Crucially, the five constituent entities carried a staggering 169,850 crore BDT in non-performing loans as of late June, making asset recovery and strict corporate governance essential for long-term viability.
