Sammilito Islami Bank depositors get limited withdrawal access from today
Sammilito Islami Bank depositors get limited withdrawal access from today

Depositors of Sammilito Islami Bank, formed through the merger of five Islamic banks, have been allowed to withdraw funds starting today (January 1) under a resolution scheme approved by Bangladesh Bank. Initially, depositors can withdraw up to Tk2 lakh from their current and savings accounts....

No payout for depositors despite Tk20,000 crore in the fund!
No payout for depositors despite Tk20,000 crore in the fund!

There is no shortage of funds in the bank. However, due to the complexities of data migration, depositors are not currently able to withdraw cash. This is the situation at the newly formed United Islami Bank. Although Tk20,000 crore has already been deposited with Bangladesh Bank, the funds cannot...

ACC files case against 38 over Islami Bank embezzlement, including S Alam
ACC files case against 38 over Islami Bank embezzlement, including S Alam

The Anti-Corruption Commission (ACC) has filed a case against 38 individuals, including S Alam Group owner Mohammad Saiful Alam, for allegedly embezzling Tk 1,83,55,578 from Islami Bank Bangladesh PLCs Pabna branch through a fictitious company called Zaman Syndicate. ACC Director General Md....

Sammilito Islami Bank launches operations after merger of 5 Shariah banks
Sammilito Islami Bank launches operations after merger of 5 Shariah banks

The authority has launched the newly formed Sammilito Islami Bank, created through the merger of five distressed Shariah-based banks in a sweeping effort to stabilise the countrys Islamic banking sector. The bank received its final approval and operating licence from Bangladesh Bank on Monday and...

Sammilito Islami Bank launches operations
Sammilito Islami Bank launches operations

Marking a major consolidation in the financial sector, Sammilito Islami Bank PLC officially commenced operations on Tuesday following the merger of five Shariah-based banks. Former secretary Mohammad Ayub Miah has taken office as the chairman of the new bank following a meeting with Bangladesh...

Ayub Mia appointed chairman of Sammilito Islami Bank
Ayub Mia appointed chairman of Sammilito Islami Bank

Former senior secretary Dr Mohammad Ayub Mia has been appointed chairman of the newly formed Sammilito Islami Bank, following approval from Bangladesh Bank on Sunday. His appointment comes after the central bank granted final approval for Sammilito Islami Bank PLC, created through the merger of...

‘Sammilita Islami Bank’ gets final approval from Bangladesh Bank
‘Sammilita Islami Bank’ gets final approval from Bangladesh Bank

Sammilita Islami Bank PLCthe new entity formed through the merger of five financially troubled Islamic bankshas received final approval from Bangladesh Bank. The approval was granted on Sunday during a special board meeting chaired by Bangladesh Bank Governor Dr Ahsan H Mansur, reports UNB. The...

Family withdrew Tk 500B from Islami Bank: BB governor
Family withdrew Tk 500B from Islami Bank: BB governor

Bangladesh Bank Governor Dr. Ahsan H. Mansur has revealed that a single family withdrew around Tk 500 billion (Tk 50,000 crore, USD4.09 billion) from Islami Bank Bangladesh Limited. He said stronger governance, improved accounting and high-quality auditing are essential to ensure the sustainability...

S Alam, 66 others accused in Tk 10,500cr Islami Bank embezzlement case
S Alam, 66 others accused in Tk 10,500cr Islami Bank embezzlement case

The Anti-Corruption Commission (ACC) has filed a case against 67 individuals, including S Alam Group Chairman Mohammed Saiful Alam, for allegedly embezzling about Tk 10,500 crore in loan funds from Islami Bank Bangladesh Limited and laundering the money to Singapore. ACC Assistant Director...