18 thousand customers apply to withdraw money from Sammilito Islami Bank on first day

Managing Director (MD) of Sammilito Islami Bank Md. Abedur Rahman Sikdar has informed that only 18 thousand customers out of 84 lakh have applied to take back the deposit money from the bank on the first day. The rate of applicants is about 0.21 percent of the total customers.

He informed this on Wednesday (September 2).

He said the number of customers who want to take the money by closing the account under the ‘exit facility’ is also not very high. Against these applications, the customers have sought a total of about 245 crore taka in return.

Md. Abedur Rahman Sikdar said applications for return of money have been received from 18 thousand customers on the first day. This number is very low compared to 84 lakh customers. On the other hand, the demand for money against the applications of those who want to take the money by closing the account is also about 245 crore taka, which is negligible compared to the overall deposits of the bank.

The bank’s MD further informed that the demand received from the customers for return of deposits on the first day is a little more than 1,300 crore taka. However, it is not 1,400 crore taka. Yet if normal transactions continue in the about 1,500 branches and sub-branches of the bank, transactions of even more money should take place.

His statement is that the demand of the customers for taking back the deposits is less compared to normal transactions. He is viewing this as a reflection of the customers’ confidence in the bank.

Bank sources informed that demand for return of deposits of about 1,300 crore taka has been received from the applications of 18 thousand customers on the first day. The rate of applicants is about 0.21 percent compared to the total 84 lakh customers.

Sammilito Islami Bank has been formed with Exim Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank. The process of return of money to the depositors of the bank under the fixed rules has already started.

The bank authorities said the applications and the demand for return of money on the first day are limited compared to the total number of customers and the normal transactions of the bank. From this it is being assumed that most of the customers have decided for the time being not to withdraw the deposits and to keep the money in the bank itself.