Sammilita Islami Bank PLC has officially initiated the repayment of funds to its depositors, marking a crucial step in restoring stability to Bangladesh’s Shariah-compliant banking sector. Under the established schedule, customers who submitted withdrawal applications on or before 1 September are receiving their funds. Depositors who registered their requests after this deadline are being instructed to await their assigned slots according to a strict chronological queuing system.
Branch management across the network confirmed that adequate liquidity has been dispatched to meet the anticipated demand. Whilst the overarching protocol enforces strict adherence to scheduled distribution dates, branch officials have been granted limited discretionary authority to accommodate genuinely urgent cases. At the Nayapalton branch—formerly operated as Global Islami Bank—a female customer who submitted an application on 3 September was permitted an emergency withdrawal of Tk 20,000 to cover medical expenses for her ailing child.
However, non-emergency cases must strictly observe the standard schedule. Another visitor at the same branch, who had also submitted an application on 3 September, was informed that an additional two-day wait would be required before his funds could be released. Branch staff emphasized that following the chronological system remains necessary to maintain orderly queues and prevent cash flow disruption.
To safeguard institutional assets during this disbursement phase, the bank has integrated a digital verification system. Before any money is released, officers use a dedicated mobile application to cross-check whether the applicant holds non-performing loans or defaulted credit liabilities across any of the five merged institutions that form Sammilita Islami Bank PLC. Reimbursing funds is strictly contingent upon receiving a clear credit status through this digital audit.
The entire liquidation and restructuring process is operating under the direct oversight of Bangladesh Bank. Sammilita Islami Bank PLC was formed through the state-backed consolidation of five Shariah-based lenders—First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, and EXIM Bank—which faced severe liquidity shortages and elevated levels of non-performing loans.
With government backing and central bank supervision now fully active, officials have urged depositors to maintain patience rather than engaging in panic withdrawals. Bank leadership reassured the public that customer capital remains secured under the state’s resolution plan, provided applicants present the required documentation on their designated disbursement dates.
