Sammilito Islami Bank Depositors Can Start Withdrawals September 7 but With a Catch
Depositors of the merged Sammilito Islami Bank PLC will finally be able to withdraw their FDR and deposit principal starting September 7, 2026, six days later than Bangladesh Bank's original target. There is a catch, though: withdrawing a Mudaraba term deposit's full principal in one go means forfeiting any profit earned on it. As the bank works through a capital shortfall exceeding Tk1,50,000 crore, the government is now looking to Qatar as a potential strategic partner.
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References
- 1Sammilito Islami Bank's depositors can withdraw money from 7 September | The Business Standard
- 2Govt seeking strategic partner in Muslim countries for Sammilito Islami Bank | The Business Standard
- 3No profit haircut for Sammilito Islami Bank depositors: BB governor | The Daily Star
- 4BB makes crucial decisions regarding Sammilito Islami Bank | Dhaka Tribune
- 5Banks push deposit returns further below inflation | The Business Standard
- 6BB cuts policy rate to 9.5%, first reduction in six years | The Daily Star
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