18,000 Customers Seek to Withdraw Tk 1,300 Crore From Sammilito Islami Bank on Day One

TBS Report, Dhaka — Nearly 18,000 customers of Sammilito Islami Bank have applied to withdraw Tk 1,300 crore from their deposits on the first day of accepting withdrawal applications on 1 September 2026 — a figure the bank's managing director described as "very small compared with our capital," indicating continued depositor confidence despite the prolonged uncertainty surrounding the merged entity.

The bank began accepting applications from depositors at its branches and sub-branches on 1 September, with payments scheduled to begin on 7 September after verification. The bank's Managing Director Md Abedur Rahman Sikder provided the figures on 2 September 2026.

📊 First Day Withdrawal Statistics

• 👥 Customers applied: ~18,000
• 💰 Total amount sought: Tk 1,300 crore
• 💰 Account-closing customers seeking: Tk 254 crore
• 📊 Total customer base: ~84 lakh (8.4 million)
• 📊 Percentage of customers who applied: 0.21%

"The amount sought by 18,000 customers is very small compared with our capital. This indicates that people still have confidence in the bank," the MD said. Of the applicants, customers seeking to close their accounts want to withdraw Tk 254 crore — an amount the MD said was lower than the bank's normal daily transactions.

🏛 Bank Background: Five-Bank Merger

The Sammilito Bank was formed by merging five troubled Islamic banks:

• 🏛 EXIM Bank
• 🏛 Social Islami Bank
• 🏛 First Security Islami Bank
• 🏛 Global Islami Bank
• 🏛 Union Bank

The merged entity has authorised capital of Tk 40,000 crore and paid-up capital of Tk 35,000 crore, with the government providing Tk 20,000 crore and the remaining Tk 15,000 crore to be issued as shares to depositors.

💰 Withdrawal Rules and Conditions

Under Bangladesh Bank's instructions, individual depositors will be allowed to withdraw:

• 💰 Principal amount from current and savings accounts
• 💰 Principal of term deposits (FDR, MTDR, DPS)
• ⚠️ No accrued or payable profit on withdrawn deposits

Customers withdrawing their principal in full will be considered to have made a final settlement for the respective deposit. Any outstanding loan or liability with the predecessor bank will be adjusted against the deposit before payment.

👥 Customers Who Stay: Profit Continues

Customers who keep their deposits with the bank can continue their accounts and earn profit at the applicable contractual rates. However, if a term deposit is encashed before maturity, the customer will receive the principal but will not receive profit on the amount. In case of partial withdrawal, profit will remain payable on the balance according to applicable rules.

🏛 Strategic Context: Bank Resolution Progress

The first-day withdrawal figures come amid the broader Sammilito Islami Bank restructuring:

• 📊 10,000 recovery cases filed to recover defaulted loans
• 📊 76 lakh depositors with Tk 1,42,000 crore in total deposits
• 📊 86% NPL ratio on Tk 1,92,000 crore in combined loans
• 📊 Capital shortfall: exceeds Tk 150,000 crore
• 📊 Forensic audit nearing completion
• 📊 Strategic partner search: Qatar approached (separate TBS report)
• 📊 Bank Resolution Act amendment: blocking former owners from returning

📊 Depositor Confidence Assessment

The 0.21 percent application rate on the first day provides a meaningful early read on depositor confidence:

• ✅ 99.79% of customers did NOT apply for withdrawal on day one
• ✅ Tk 1,300 crore sought vs Tk 1,42,000 crore total deposits (0.92%)
• ✅ Tk 254 crore for account closures below normal daily transaction volume
• ✅ MD's confidence statement: amounts are "very small compared with capital"
• ⚠️ Verification phase: actual payments begin 7 September
• ⚠️ Subsequent days: may see increased applications

🌏 Strategic Implications

The first-day withdrawal figures carry several strategic implications:

• ✅ Depositor confidence: 99.79% retention rate on day one is positive signal
• ✅ Bank stability: Tk 1,300 crore well within bank's capacity to handle
• ✅ September 7 payout readiness: bank has time to prepare cash positions
• ✅ Government capital injection: Tk 20,000 crore provides buffer
• ⚠️ Multi-day trend needed: first-day figures may not represent full demand
• ⚠️ Profit exclusion: depositors may be disappointed at losing accrued profits
• ⚠️ Strategic partner search: Qatar engagement still under negotiation

The first-day withdrawal figures represent an encouraging early signal for Sammilito Islami Bank's depositor confidence trajectory — with the 0.21 percent application rate suggesting that the vast majority of the bank's 84 lakh customers are choosing to keep their deposits rather than withdraw. If this pattern holds through the September 7 payout date and subsequent weeks, the bank's restructuring programme may achieve depositor stability more quickly than originally anticipated — providing a stronger foundation for the ongoing recovery of defaulted loans and the search for a strategic partner from Muslim countries.