Sammilito Islami Bank Returns Tk 2.5 Billion to 6,000 Customers on First Day

🏦 Dhaka, Bangladesh — Sammilito Islami Bank PLC, formed through the merger of five Shariah-based banks, has started returning to normal banking operations. The bank began returning depositors’ money on Monday, 7 September 2026.

💰 Those who had applied for the return of their deposits on the first day of applications received their money on Monday. According to sources concerned, the bank returned Tk 2.5 billion (250 crore) to 6,000 customers on the first day.

📊 In addition to returning deposits, the bank also began online fund transfers on Monday. As a result, the operations of Sammilito Islami Bank have gained some momentum after a long period.

🤝 Five Banks Merged to Form Sammilito Islami Bank

📊 Five banks were merged to form Sammilito Islami Bank:

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

📊 The former interim government initiated the move. Although Sammilito Islami Bank has been formed, the branches of the five banks are still being operated separately. The five merged banks have a total of 761 branches across the country.

📊 Deposit Return Process Timeline

📊 On the first day of the deposit return process, customers withdrew money from their respective branches. The process of returning money to all types of depositors began on Monday following a government decision.

📋 Timeline:

• 📅 1-6 September: Applications collected from customers interested in withdrawing deposits
• 📅 7 September (Monday): Deposit returns begin — Tk 2.5b returned to 6,000 customers
• 📅 7 September (Monday): Online fund transfers also started

💰 BB Allocates Tk 5,000 Crore for Withdrawals

📊 Bangladesh Bank has allocated Tk 50 billion (5,000 crore) to the bank to return depositors’ money. A total of 74,000 depositors of the bank applied to withdraw Tk 39.25 billion (3,925 crore) within the stipulated period.

📊 Bangladesh Bank allocated the necessary funds to the bank so that no customer would leave empty-handed after coming to withdraw money. The government took full ownership of the bank after declaring the value of all shares in the five merged banks to be zero.

💬 MD Md Abedur Rahman Sikder: All Customers Get Money

💬 Asked about the matter, Sammilito Islami Bank Managing Director (MD) Md Abedur Rahman Sikder told Prothom Alo that arrangements had been made to return the money to all customers who had applied.

💬 However, not all those who had applied to receive their money on the first day came to the bank to collect it. When the bank contacted many customers, they said they intended to keep their money deposited. Others withdrew their money and deposited it back into the bank shortly afterwards, he added.

🌏 Branch Visits: Gulshan, Mohakhali, Banani, Motijheel

📊 Meanwhile, visiting several branches of the bank in capital’s Gulshan, Mohakhali, Banani and Motijheel areas on Monday it was found that sufficient funds had been arranged at all branches under the management of the bank’s head office and the respective branches.

📊 Many customers began queuing at the branches from the morning to withdraw money. Branch officials welcomed them with flowers. All customers who had submitted their applications properly were given their money back.

💬 Uttara Branch Manager: Mixed Response

💬 ABM Mokarram Mahmud, manager of the Uttara branch of the merged Union Bank, told Prothom Alo that eight customers applied to withdraw money on the first day. Four of them withdrew their money, while the others were contacted. Plus, customers who have profits accumulated in their accounts are also able to withdraw money.

🏛 Background: S Alam and Nassa Group Connection

📊 After the fall of the Awami League government in August 2024, the former interim government merged the five troubled Shariah-based banks mentioned above to form Sammilito Islami Bank.

📊 Of the five banks:

• 🏦 Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank — controlled by controversial Chattogram businessman Saiful Alam (S Alam)
• 🏦 EXIM Bank — controlled by Nassa Group Chairman Nazrul Islam Mazumder

⚠ Both were known as businessmen close to ousted prime minister Sheikh Hasina.

🌏 Strategic Context: Bangladesh Banking Sector Restructuring

📊 For Bangladesh’s banking sector, the Sammilito Islami Bank deposit returns represent a critical milestone in the resolution of the legacy banking crisis:

• 💰 Tk 5,000 crore BB allocation — sufficient to cover Tk 3,925cr withdrawal applications
• 💰 Tk 250 crore returned on first day — to 6,000 customers
• 📊 74,000 total applicants — out of 7.6 million total depositors
• 📊 Only 0.97% of depositors applied — signaling strong customer confidence
• 📊 Some customers re-deposited — showing trust in government-backed institution
• 📊 Online transfers started — bank returning to normal operations

📈 Outlook: Continued Stabilisation

✅ For Bangladesh’s broader banking sector, the smooth start of deposit returns at Sammilito Islami Bank signals that the government’s strategy of merging troubled banks into a single state-owned entity is working. With Tk 5,000 crore allocated, 761 branches operational, and online fund transfers resumed, the bank appears positioned to gradually return to normal banking operations — while addressing the legacy NPL and capital shortfall challenges that resulted from the S Alam and Nassa Group era of mismanagement.

🌏 For the broader economy, the stabilisation of Sammilito Islami Bank removes a significant source of financial sector risk — allowing Bangladesh Bank to focus on broader banking sector reform rather than crisis management. The success of the deposit return process also sends a positive signal about the government’s ability to manage complex financial sector restructuring — a capability that will be increasingly important as Bangladesh navigates LDC graduation and the associated economic transition.