Sammilito Islami Bank merges legal, recovery divisions of 5 banks

Sammilito Islami Bank PLC has merged the legal and investment recovery divisions of five banks into two central units, marking its first major step towards integrating their operations.

The move brings together the respective divisions of EXIM Bank, Social Islami Bank, First Security Islami Bank, Union Bank and Global Islami Bank under a single legal division and an investment recovery division.

The two units were formally inaugurated yesterday at the bank’s head office in Motijheel, Dhaka, according to a press release.

Quazi Shairul Hassan, chairman of Sammilito Islami Bank, inaugurated the divisions in the presence of Abedur Rahman Sikder, managing director and chief executive officer of the bank, and Barrister Firoz Hasan, legal adviser to Bangladesh Bank.

Abedur said the five banks’ legal and recovery teams had started working under a unified structure. He stressed that recovering investments would remain a top priority and called for coordinated efforts to achieve the bank’s goals.

Shairul said collective efforts and the skills of employees would help the bank achieve its objectives.
Firoz described the integration as a challenging process and said he was honoured to be associated with the initiative.

Heads of the two divisions from the five banks and other officials attended the event.