The central bank of Bangladesh has confirmed that depositors of five merged banks will receive their funds back in stages under a structured repayment scheme, aimed at ensuring orderly disbursement while maintaining financial stability.
At a briefing held on Tuesday (7 April) at the central bank’s office in Motijheel’s Sena Kalyan Bhaban, Assistant Spokesperson Shahriar Siddiqui addressed public concerns following recent protests by depositors outside the Bangladesh Bank headquarters.
He explained that a dedicated repayment framework has already been formulated for customers of the newly formed “Combined Islamic Bank”, created through the consolidation of five Islamic banks. Under this system, depositors will be able to withdraw their funds gradually over a maximum period of 21 months.
According to the plan, all eligible account holders are entitled to withdraw up to two lakh taka immediately from the outset. Subsequently, an additional one lakh taka will be available every three months until the full deposit amount is returned.
Structured Withdrawal Plan
| Stage | Facility Provided | Conditions |
|---|---|---|
| Initial phase | Up to 2 lakh taka withdrawal | Available immediately |
| Ongoing phase | 1 lakh taka every 3 months | Until full settlement (up to 21 months) |
| Maximum timeline | Full repayment within 21 months | Subject to scheme rules |
The scheme applies not only to savings and current accounts but also to fixed deposits (FDRs) and deposit pension schemes (DPS). For matured FDRs and DPS accounts, depositors may initially withdraw up to one lakh taka, while the remaining balance will be restructured according to the phased schedule. Profit earnings may be withdrawn during each renewal cycle, although the principal amount will remain subject to the repayment structure.
Shahriar Siddiqui further clarified that short-term deposits will also follow a renewal-based system: three-month deposits may be renewed up to three times, six-month deposits twice, and one- or two-year deposits will be adjusted similarly through structured renewals, allowing gradual access to funds.
Special provisions have also been introduced for critically ill depositors. Individuals suffering from serious conditions such as kidney disease or other life-threatening illnesses may withdraw unlimited amounts for medical treatment upon submission of valid documentation. For other medical cases, designated bank administrators may approve withdrawals of up to 10 lakh taka. Any request exceeding this limit will require review and approval from the central bank.
He also emphasised that depositors facing difficulties in accessing their funds can lodge complaints either through their respective banks or directly with the central bank for resolution.
The spokesperson reiterated that protecting depositors’ interests remains the government’s top priority. Authorities are working to ensure that the transition process remains smooth and transparent, while restoring confidence among customers who have endured prolonged uncertainty.
In addition, reforms are underway to strengthen the governance structure of the Combined Islamic Bank. The appointment process for a new managing director has already begun, with applications being screened following public advertisement. Approval procedures are expected to be completed shortly after government clearance. The selection of a chairman is also in progress.
As part of the broader restructuring, overlapping branches of the merged banks will be gradually consolidated to reduce operational costs and improve efficiency. Multiple head offices operating in rented premises are also being phased out. Furthermore, the existing five separate core banking software systems are being integrated into a single unified digital platform, with experts currently overseeing the transition.
Officials have stated that the overall objective is to transform the merged institution into a stable, efficient, and profitable banking entity through coordinated administrative and technological reforms.