Sammilito Islami Bank, formed through the merger of five crisis-hit banks, received around 18,000 applications to withdraw Tk 1,300 crore in a single day on Tuesday.

The bank commenced routine transactions on September 1 and invited applications from depositors to withdraw funds under either a one-off exit scheme or a general withdrawal plan. Disbursements are scheduled to begin on September 7.

On August 31, Bangladesh Bank introduced the one-off exit option for individual depositors of five crisis-hit Shariah-based banks, allowing them to withdraw their full principal at once on the condition that they forfeit any accrued profit.

The facility covers EXIM Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and Union Bank, whose assets and liabilities have been transferred to Sammilito Islami Bank PLC.

The vast majority of applications fell under the exit facility. Under this scheme, individual depositors can withdraw the full balance of their current and savings accounts. For fixed and term deposits, they may withdraw only the principal originally deposited from their own funds, excluding any accrued profit, after which they will have no further claim against the bank.

Bangladesh Bank officials noted that depositors who wish to continue earning profits will have to wait for repayment according to the existing schedule.