A festive mood marked by relief and optimism prevailed at branches of Sammilito Islami Bank PLC today as the newly formed bank began repaying deposits to individual customers under its special repayment programme.
Customers were seen arriving at branches from the morning to complete necessary formalities and receive their eligible deposits, with many expressing satisfaction at finally gaining access to their savings.
"I had been worried about my savings for a long time. Being able to withdraw money today has given me great relief," said Abu Sufian, a depositor at a Sammilito Islami Bank branch in Dhaka.
Another customer, Md Morshed, said the repayment process had restored confidence among depositors.
"We are happy to see that the repayment process has started. If the bank continues its normal operations and ensures access to deposits and payment of profits, we would prefer to keep our money here," he said.
The repayment programme marks a major milestone for Sammilito Islami Bank, which was formed through the merger of five financially troubled Islamic banks.
The bank received 74,221 applications seeking withdrawal of Tk 3,925 crore during the four-day application period that ended on Sunday.
Sammilito Islami Bank Managing Director and Chief Executive Officer Md Abedur Rahman Sikder said the number of applications and the amount sought were lower than initially expected, describing the response as a positive indication of depositors' continued confidence in the bank.
"The response from depositors has been encouraging. The number of applications and the amount sought were lower than our expectations," he said.
He said the declining amount of withdrawal requests during the application period was also a positive sign for the bank.
On the first day, 18,046 customers applied for Tk 1,329 crore, while on the final day, 15,476 customers sought Tk 657 crore.
Bank officials said the lower demand for withdrawals indicated that many customers were willing to retain their deposits with the newly formed bank if its operations remained stable and services continued smoothly.
Motijheel Branch Manager of EXIM Bank, now operating under Sammilito Islami Bank PLC, Mohammad Kabirul Islam said the atmosphere at the branch had changed noticeably, with customers arriving in a more relaxed and confident mood.
"Customers are coming to the bank with a sense of relief rather than anxiety. We are warmly welcoming them with flowers as they receive their money. The commencement of the repayment process is an important confidence-building step for both our depositors and the bank as a whole," he said.
Motijheel Foreign Exchange Branch Manager of Social Islami Bank, now operating under Sammilito Islami Bank PLC, Md Moniruzzaman said the repayment programme would help strengthen the relationship between the bank and its customers.
"The most important thing now is to maintain transparency, ensure smooth services and gradually restore full confidence. If customers see that the bank is functioning normally, many of them may choose to keep their deposits with us," he said.
Bank officials said necessary preparations had been made at branches and sub-branches to ensure an orderly repayment process and minimise inconvenience to customers.
Bangladesh Bank has also been providing liquidity support to Sammilito Islami Bank to facilitate payments to depositors. The central bank provided Tk 5,000 crore to support the repayment programme, according to reports.
The successful implementation of the repayment programme is being viewed as a crucial test of the newly formed bank's ability to restore depositors' confidence and gradually return to normal banking operations.
