Paid agents behind smear campaign against Sammilito Islami Bank: Governor

Bangladesh Bank Governor Ahsan H Mansur on Thursday dismissed rumours surrounding the newly formed Sammilito Islami Bank, alleging that vested interests are paying individuals to provoke unrest as part of a planned smear campaign.

Speaking at an emergency press briefing at the central bank headquarters in Dhaka, Mansur said organised efforts were under way to incite disorder at bank branches, including the filming of provocative videos, particularly in the Chattogram region.

Reaffirming the new bank’s financial stability and continued state support, he said authorities were monitoring the situation closely and warned that law enforcement agencies would be deployed if needed.

“We believe in democratic practices and everyone has the right to protest. But certain vested interests are paying people to create chaos. These efforts will not succeed,” Mansur said.

The governor sought to reassure depositors amid controversy over profit distribution following the consolidation of several troubled Islamic banks into Sammilito Islami Bank.

He said the government had provided ‘extraordinary support’ using public funds to stabilise the institution, stressing that the state could not shoulder the entire financial burden alone.

“Burden sharing is a global practice,” Mansur said, pointing out that while some depositors received a 4% profit for 2024 and 2025 due to past losses, they had benefited from returns of as much as 12% to 13% in earlier years.

From this year, depositors will receive market-based profit rates, currently set at 9.5%, he said. “In the coming days, they will receive 9.5%. What more could one ask for?” Mansur added.

Regarding criticism over compliance with AAOIFI standards for Islamic finance, the governor said the issue was not about introducing new rules but ensuring the survival of a functioning bank. “If the bank doesn’t exist, who will pay the profit?” he said.

Mansur also rejected rumours that he was planning to take leave or resign, calling the claims baseless. “I have not submitted any leave application, no leave has been granted, nor do I have any intention of taking leave.”

He said Bangladesh Bank had undertaken more reforms in the past year than in the previous 14 to 15 years combined, scaling back non-essential regulatory controls to focus on core priorities such as foreign exchange management and financial market development.

The governor urged the public to verify information directly rather than rely on rumours. “Go to the banks yourselves, listen and understand the situation. In Bangladesh, there is no end to rumours,” he added.