The process to transfer the bank accounts of depositors of the five banks included under the merger to the newly formed Sammilito Islami Bank is at the final stage, reports BSS.
If the process is completed within the next week, the deposits of the existing five banks will be automatically transferred to accounts of the newly formed Sammilito Islami Bank, said a release of the Bangladesh Bank on Saturday.
Depositors will be able to withdraw up to a maximum of Taka 200,000 using their existing cheque books. Any remaining balance will remain secured in their bank accounts, and profit will be paid on such deposits at the prevailing rate.
As the newly formed bank is a state-owned bank, public confidence in the bank is expected to increase, which in turn is likely to significantly reduce the demand for deposit withdrawals.
In a clarification on Friday, the Bangladesh Bank (BB) cautioned the public against misinformation circulating in various media outlets.
"The process to allow depositors of these five banks to withdraw a maximum of Taka 2,00,000 based on their requirements will commence shortly," said BB Executive Director and spokesperson Arif Hossain Khan through a message.
However, he emphasised that no specific date or time had yet been finalised for start of the withdrawal facility.
Process to transfer bank accounts into Sammilito Islami Bank at final stage
FE Team | Published: December 27, 2025 21:58:16
Process to transfer bank accounts into Sammilito Islami Bank at final stage
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