Bangladesh Bank has expanded access to emergency withdrawals for depositors of the five Islamic banks being merged into Sammilito Islami Bank PLC, allowing them to withdraw up to Tk100,000 not only for their own medical treatment but also for family healthcare and other urgent needs.
The decision was approved at a meeting of the central bank’s board of directors on Wednesday, chaired by Governor Md Mostaqur Rahman, officials familiar with the matter said.
Under the revised policy, depositors may now use the special withdrawal facility to pay for the medical treatment of immediate family members, including parents, spouses, children and siblings, as well as to meet other emergency expenses.
Previously, withdrawals under the central bank’s special support scheme were restricted to a depositor’s own medical treatment.
The revised facility applies to depositors of First Security Islami Bank PLC, Social Islami Bank PLC, Union Bank PLC, Global Islami Bank PLC and EXIM Bank PLC, which are being consolidated into Sammilito Islami Bank as part of Bangladesh Bank’s banking sector restructuring programme.
At the same meeting, the central bank also decided to begin withdrawing its administrators from the five banks, with the process expected to start within the next few days, according to a Bangladesh Bank official who spoke on condition of anonymity.
Following the withdrawal of the administrators, operational control of the merged banks will be transferred to a full-time managing director of Sammilito Islami Bank, marking the next phase of the merger process.
Sammilito Islami Bank has a paid-up capital of Tk350 billion, including Tk200 billion provided by the government. The remaining Tk150 billion will be allocated to depositors in the form of shares under the restructuring plan.
