Published : 25 Aug 2026, 08:34 PM
Updated : 08 Sep 2026, 09:35 AM
Bangladesh Bank has instructed Sammilito Islami Bank to clearly tell depositors that no “haircut”, meaning a reduction or deduction from the money or profit they are entitled to receive, will be imposed on their deposits.
Governor Mostaqur Rahman gave the instruction on Tuesday during a meeting with the bank’s chairman Quazi Shairul Hassan and managing director Abedur Rahman Sikder.
The pair met the governor at the central bank in the morning, where he told the bank to take whatever steps needed to restore "normal" banking operations at the earliest.
The central bank issued three fresh directives, including allowing account holders at three more banks to withdraw funds outside the scheme announced last December.
Its statement flagged two other points: while the finance minister had told parliament there would be no haircut on depositors' profits, some confusion still lingers among account holders, so Sammilito Islami Bank must clearly inform every depositor that their profits will not be cut.
Referring to the December scheme under which depositors are being repaid, the central bank said the bank must also ensure that from Sept 1, individual account holders can withdraw from Al-Wadiah current accounts, Mudaraba savings accounts and Mudaraba term deposit accounts as well.
Bangladesh Bank Deputy Governors Habibur Rahman, Kabir Ahmed, Sarwar Hossain and Anis Ur Rahman were present at the meeting.
Sammilito Islami Bank began formal operations on Aug 16 after Shariah-based Exim Bank, First Security Islami Bank, Global Islami Bank, Union Bank and Social Islami Bank were merged into a single entity.
Through the merger, it inherited the five banks' combined network of 760 branches, 698 sub-branches, 511 agent banking outlets and 975 ATM booths nationwide.
Central bank data show the five banks' defaulted loans stood at Tk 1.66 trillion as of end-March this year, with a default rate of 84.22 percent.
The new bank launched with Tk 350 billion in authorised capital, and the government has already injected Tk 200 billion in capital support.
