The applicants have sought a total of Tk 3,925 crore, officials of the bank said

However, no profit will be given to those who withdraw their principal amount

Sammilito Islami Bank will allow individual depositors to withdraw their principal amounts from certain deposit accounts as needed from September 1, Bangladesh Bank Governor Md Mostaqur Rahman instructed the bank’s top officials yesterday.

The governor said all depositors’ principal amounts would remain fully secure and would be returned gradually

Revised decision will apply only to individual depositors

The Bangladesh Bank (BB) will not change its decision about paying no profits on deposits for 2024 and 2025 at five shariah-based banks now undergoing a merger, even as depositors staged protests at a number of branches.

Most branches of the five lenders reported normal banking activity, hinting at growing depositor confidence in the newly formed Sammilito Islami Bank PLC

The application for a three-year contract should be submitted by December 22 this year

The Bangladesh Bank (BB) wants to bring in strategic foreign investors for the new shariah-based Sammilito Islami Bank, which is being created through the merger of five troubled Islamic lenders, according to BB Governor Ahsan H Mansur..Days after the central bank gave the preliminary appr