Sammilito Islami Bank refunds small depositors from today
Bangladesh Bank is set to begin releasing funds to small depositors of Sammilito Islami Bank starting from Today (Monday), following the receipt of over 25,000 applications since conditional withdrawal applications opened on September 1.
The central bank expects the total number of applicants to rise further as applications remain open through Sunday.
Executive Director and Spokesperson of Bangladesh Bank, Arif Hossain Khan, told UNB that application gathering was initiated to determine the exact number of small depositors seeking withdrawals and the total funds required, reports UNB.
“Primary estimates show the number of applicants has crossed 25,000. Once the total daily applications and fund requirements are finalized today, appropriate financial arrangements will be completed to commence distributions starting Today (Monday),” he stated.
Bangladesh Bank urged depositors to avoid crowding bank branches or creating chaos during the payout process. It requested individuals without urgent cash needs to visit branches in subsequent days rather than arriving on the first day.
“If everyone attempts to withdraw money simultaneously, normal banking operations may be disrupted. Depositors are requested to remain patient and withdraw funds in phases,” the spokesperson said, reassuring customers that all promised payments will be honored and there is no cause for panic.
Arif Hossain noted that applying does not guarantee that every customer will ultimately withdraw their funds. Since withdrawing early may involve forfeiting certain profits, some applicants may alter their decision.
Consequently, disbursements will be calculated and provided based on depositors who physically present themselves at branches to execute the withdrawal.
He affirmed that despite Sammilito Islami Bank’s internal capacity limitations, Bangladesh Bank will extend necessary financial support to safeguard depositor interests and fulfill all commitments.
Addressing broader banking operations, the central bank spokesperson stated that commercial banks face no institutional shortages regarding loan disbursements, but stressed those borrower enterprises must ensure requisite logistical readiness.
