Staff Correspondent 
Depositors have started receiving their money from Sammilito Islami Bank. Customers who applied for withdrawals on the first day have begun receiving their funds from Monday.
On Monday (September 7), money was sent from the bank’s head office to its branches. Online fund transfers have also begun.
As a result, normal operations at Sammilito Islami Bank are gradually resuming. However, many depositors have expressed dissatisfaction over the deduction of profits. According to several customers, new accounts have been opened and only the principal amount has been credited. No decision has yet been announced on whether the “haircut” imposed on deposits will be withdrawn.
Customers who applied to withdraw their deposits by Sunday will now be able to withdraw their money in phases.
According to decisions taken by Bangladesh Bank and Sammilito Islami Bank, applications for deposit withdrawals were accepted from September 1 to 7. The applications are now being reconciled and the required funds are being requested from the head office.
The head office will coordinate with Bangladesh Bank to collect the necessary funds. As part of this process, customers who applied on September 1 received their money on Monday. A schedule will be prepared for paying the remaining applicants.
Customers can currently withdraw only the principal amount of their deposits. No profit will be paid on the amount withdrawn. However, deposits that remain in the bank accounts will earn profit at the prescribed rate.
Customers who withdraw their entire balance on Monday will have their accounts finally settled. They will not receive any further profit on those accounts in the future.
It is learnt that applications for withdrawal of deposits were accepted until Sunday. Customers who submitted applications on that day will receive their money after another week.
Earlier applications have been reconciled, and the head office has informed Bangladesh Bank of the required funds. Based on that demand, Bangladesh Bank will provide the necessary funds to Sammilito Islami Bank.
