Bangladesh Bank has said there will be no haircut on the profits earned by depositors of Sammilito Islami Bank. From September 1, individual depositors will be able to withdraw money from their accounts as needed.
Bangladesh Bank Governor Mostaqur Rahman held a meeting with Sammilito Islami Bank Chairman Kazi Shairul Hasan and Managing Director Abedur Rahman Sikder on Tuesday.
After the meeting, the governor clarified that depositors would not face any haircut on their profits. The bank was also instructed to allow individual depositors, from September 1, to withdraw the principal amounts held in Al-Wadiah current accounts, Mudaraba savings accounts and Mudaraba term deposits as needed, beyond the withdrawal limits set under the scheme.
The governor also directed the authorities to take the necessary steps to resume normal operations at Sammilito Islami Bank with capital of Tk 35,000 crore.
Bangladesh Bank said depositors are already receiving their funds in accordance with the scheme announced on December 29 last year.
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