Sammilito Islami Bank PLC has launched a dedicated collection and recovery “war-room” to speed up the recovery of classified and overdue investments and strengthen its ability to repay depositors.
The centralised unit was inaugurated by Managing Director Abedur Rahman Sikder at the bank’s corporate headquarters on Sunday, with senior officials from its five constituent banks and recovery and legal divisions attending the event.
The initiative will centrally coordinate recovery activities, monitor large borrowers, set collection targets and oversee legal measures where required, the bank said in a press release on Sunday.
Officials at the event reviewed the bank’s current recovery position, strategies for large borrowers, collection targets, legal actions and future plans.
Sammilito Islami Bank said faster recovery of overdue investments is a priority to protect depositors’ interests and improve the bank’s liquidity position.
The bank was formed through the transfer of all assets and liabilities of EXIM Bank PLC, Social Islami Bank PLC, First Security Islami Bank PLC, Global Islami Bank PLC and Union Bank PLC.
To strengthen its capital base, the bank has arranged a Tk35,000 crore capital structure, comprising Tk20,000 crore from the government and Tk15,000 crore from depositors.
Speaking at the event, Abedur Rahman Sikder said collection and recovery should not be treated as a routine banking activity but as a key priority for protecting depositors and supporting the bank’s financial recovery.
He said effective and timely recovery would strengthen the bank’s financial capacity and liquidity position, helping improve its ability to repay deposits.
The managing director also stressed the importance of governance, transparency, accountability and professionalism, saying the bank aims to become a modern, technology-driven and customer-friendly Islamic bank.
He expressed optimism that the recovery war-room would bring visible progress in recovering investments and help safeguard the interests of depositors, customers and other stakeholders.
