Customers to Receive Funds from Sammilita Islami Bank Soon

Bangladesh Bank Governor Ahsan H. Mansur has confirmed that depositors of Sammilita Islami Bank may need to wait seven to fifteen days to access their funds. The delay, he explained, is due to ongoing technical processes required to transfer money directly into customers’ accounts.

Speaking to journalists on Wednesday afternoon after a meeting with Economic Adviser Salehuddin Ahmed at the Secretariat, the Governor clarified the steps being undertaken to ensure a smooth disbursement. Earlier in the day, the bank’s first board meeting was held at Bangladesh Bank under the chairmanship of Mohammad Ayub Miah. The meeting was attended by other board members, as well as senior officials from Bangladesh Bank and the Ministry of Finance. Following the session, the board members held a separate discussion with the Economic Adviser, with Governor Mansur also present.

Governor Mansur emphasised that each depositor’s funds would be transferred directly to their respective bank accounts. “This may take seven, ten, or fifteen days, depending on the technical procedures involved. We want to avoid any confusion or delays,” he said. He added that the bank’s accounts have already been opened and that BDT 20,000 crore is currently held at Bangladesh Bank. “We aim to ensure that every depositor receives their money smoothly, without unnecessary complications,” he noted. Chairman Mohammad Ayub Miah was present during this announcement.

When asked about the appointment of the new Managing Director (MD) for Sammilita Islami Bank, Chairman Miah explained that several applications have been received, but more time is required to finalise the selection. “It is a complex process,” he added.

According to a press release issued by Bangladesh Bank, the board meeting covered the bank’s overall operations, progress, and future plans. Key topics included the current financial position, governance structures, risk management strategies, and initiatives to improve customer service. Board members emphasised strengthening transparency, governance, and adherence to Islamic banking principles, committing to reinforce the bank’s operations in the national interest.

The agenda reportedly included 17 items, such as setting the remuneration of directors, determining the bank’s formal inauguration date, and finalising official seals, logos, slogans, and signage. Like other banks in the country, Sammilita Islami Bank will follow a financial year from January to December, with certain matters, including director remuneration and branding, to be confirmed in subsequent meetings.

Key Details – Sammilita Islami Bank Depositor Update