Sammilito Islami Bank PLC has so far filed around 10,000 cases to recover defaulted loans, as Bangladesh Bank (BB) intensifies efforts to protect depositors' interests and strengthen the financial position of the country's largest state-owned Shariah-based Islamic bank.
The information came at a meeting held at the central bank headquarters today with the BB governor and officials of the Bank Resolution Department (BRD) to review the progress of loan recovery, reconstruction and overall activities of the bank, said a press release.
More cases are currently being processed as part of the bank's ongoing drive to recover defaulted loans, the meeting was informed.
Besides taking conventional legal action, the bank has adopted settlement-based mechanisms, including the Exit Policy and Alternative Dispute Resolution (ADR), to expedite recovery of outstanding loans.
Bangladesh Bank's Bank Resolution Department is regularly monitoring the progress of the recovery drive and following up on the cases, alongside other reconstruction and integration activities of the bank.
The meeting also discussed measures to identify individuals responsible for irregularities, corruption, loan fraud and misuse of assets during the previous ownership and management of the bank. A forensic audit conducted for this purpose is now at its final stage.
The authorities expect that intensified legal action and alternative dispute resolution mechanisms will accelerate loan recovery and help bring the bank's stuck funds back into productive sectors.
The meeting also reviewed the progress of the bank's restructuring, including reconstitution of its board with emphasis on independent directors, appointment of a CEO effective July 16, 2026, and organisational adjustments involving around 16,000 employees.
Work is also underway to integrate the Core Banking System (CBS), SWIFT and RMA infrastructure of the five banks under a unified framework.
Bangladesh Bank said it is closely monitoring the bank's loan recovery, case disposal, governance, human resource management, branch rationalisation and technological integration.
Sammilito Islami Bank PLC started operations with Tk 35,000 crore in capital as the country's largest state-owned Shariah-based Islamic bank.
Ensuring transparency, accountability and good governance in the management of its assets and deposits is one of Bangladesh Bank's key priorities, the central bank said.
