The process of transferring depositors’ bank accounts from the five Islamic banks to the newly formed and consolidated “Sammilito Islami Bank” is now in its final stages.
Once the work is completed within the upcoming week, the deposits from the existing banks’ customer accounts will be automatically transferred to the accounts at the newly established Sammilito Islami Bank.
Bangladesh Bank spokesperson Arif Hossain Khan confirmed the matter on Saturday.
In a message sent to the media, he stated that following the account transfer, depositors will have the opportunity to withdraw up to Tk 2 lakh using their existing cheque books. Any remaining deposit (if applicable) will remain secure in their bank accounts, and profit at the prevailing rate will be paid on those deposits.
“Being a state-owned bank, public trust will be created in this newly formed bank, and as a result, it is expected that depositors’ demand for withdrawing money will decrease significantly,” said Arif Hossain.
