Depositors at the merged Sammilito Islami Bank will face no haircut whatsoever on their profits, Bangladesh Bank Governor Md Mostakur Rahman has said. The bank has also been instructed to arrange for depositors to withdraw funds as needed starting September 1.
Sammilito Islami Bank Chairman Kazi Shairul Hasan and Managing Director Abedur Rahman Sikder met with Bangladesh Bank Governor Md Mostakur Rahman on Tuesday. Bangladesh Bank Deputy Governors Dr Md Habibur Rahman, Dr Md Kabir Ahmed, Md Sarwar Hossain and Md Anisur Rahman were also present.
During the meeting, the governor gave the bank’s chairman and managing director instructions on several matters, chief among them resolving the ambiguity that has developed around depositors’ profits, Bangladesh Bank said in a press release.
The governor said that although the finance minister had announced in parliament that there would be no haircut on depositors’ profits, some ambiguity remains among depositors on the issue. He said Sammilito Islami Bank must therefore make clear to all its depositors that there will be no haircut of any kind on their profits.
Bangladesh Bank said funds are already being returned to depositors under the scheme announced on December 29. In addition, starting September 1, individual depositors will be able to withdraw funds as needed from their Al-Wadiah current accounts, Mudaraba savings accounts and Mudaraba term deposits, beyond the specified portion of the principal amount. The bank has been instructed to take the necessary steps on this front.
Sammilito Islami Bank, which began operations with 350 billion taka in capital, has also been instructed to take the necessary steps to resume full normal banking operations as quickly as possible.
Bangladesh Bank’s directive said that, as the country’s largest and only state-owned Islami bank, the institution must quickly return to normal banking operations.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report