Depositors of Sammilito Islami Bank to get funds back soon: Governor

Bangladesh Bank Governor Md Mostaqur Rahman has said that a decision on returning deposits to customers of the merged Sammilito Islami Bank will be taken within the next one to two weeks.

Speaking at a post-budget press conference on Friday, the governor dismissed social media claims that the interim government had halted activities related to the merged Islamic bank after taking office.

"There has been misinformation that the operations of Sammilito Islami Bank have stopped. That is not true. The process has been moving forward continuously," he said.

Mostaqur explained that after he assumed office on 24 February, the bank's chairman resigned shortly afterward, while the individual initially selected as managing director declined to take the position. Bangladesh Bank then issued a recruitment notice and completed the selection process, including regulatory approvals, by the end of May.

He said the newly appointed board held its first meeting earlier this week, marking a key step in advancing the bank's restructuring process.

The governor acknowledged that integrating the core banking systems of the five merged Islamic banks remains a major challenge but said Bangladesh Bank has been working behind the scenes to address operational issues.

"We expect visible progress in the coming weeks," he said.