Bangladesh Bank (BB) has issued a directive regarding profit payments by Sammilito Islami Bank, stipulating that only individual depositors are eligible to receive a 4 per cent return on their deposits for 2024 and 2025.
“Profits on individual (non-institutional) term deposits and scheme-based deposits for the period from 1 January 2024 to 28 December 2025 must be paid at the Bank Rate, which is 4 per cent per annum,” stated a BB circular issued on Wednesday.
The central bank noted that this decision revises earlier instructions concerning the non-payment of profits on deposits during this period. The regulator explained that the measure was reconsidered to alleviate the inconvenience to depositors while ensuring the long-term financial stability of Sammilito Islami Bank.
Last year, Bangladesh Bank finalised the Bank Resolution Scheme 2025 for the newly established Sammilito Islami Bank PLC, formed through the merger of five Shariah-based banks that had faced financial difficulties. The scheme sets out specific steps and timelines for reimbursing depositors’ funds as part of the resolution process.
