Administrators appointed to the five merging Islamic banks will be withdrawn shortly to help accelerate operations of the newborn Sammilita Islami Bank led by a new managing director.
Bangladesh Bank (BB) has made the decision on withdrawal of the administrators of the five and charge handover to the emerging bank's MD, sources said.
The decision was taken at a meeting of the board of directors of the BB on Wednesday with its governor Md. Mostaqur Rahman in the chair.
Seeking anonymity, a BB official confirmed the decision, saying that withdrawal of administrators will possibly begin within a couple of days and charge handover to a full-time managing director takes place soon.
Apart from that, he said, it was also decided that depositors to the five merging Islamic banks will now be allowed to withdraw up to Tk 1.0 million not only for their own medical treatment but also for other emergency needs.
Previously, withdrawals under the central bank's special scheme were limited to a depositor's own medical expenses.
Under the revised policy, funds can also be withdrawn for the treatment of immediate family members, including parents, spouses, children, and siblings, as well as for other urgent necessities.
The decision applies to the five banks that are merging to form Sammilita Islami Bank PLC. The five merging banks are First Security Islami, Social Islami, Union, Global Islami, and EXIM.
The merged bank has a paid-up capital of Tk 350 billion, including Tk 200 billion provided by the
government. Depositors will receive shares against the remaining Tk 150 billion.
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