Depositors of United Islamic Bank Begin Receiving Their Deposits Back

Photo: Collected

News Desk: The process of returning deposits to customers of United Islamic Bank has officially begun. The bank’s Managing Director has been visiting various branches to oversee the operation and has assured customers that there is no shortage of cash and that everyone will receive the necessary banking services.

Meanwhile, Bangladesh Bank has provided Tk 5,000 crore in liquidity support to United Islamic Bank so that it can repay depositors of the five merged Islamic banks. Branch managers say the number of withdrawal applications has been lower than expected, which they view as a sign of growing customer confidence in the newly formed bank.

The five troubled Islamic banks were merged to form United Islamic Bank, which began accepting applications for the withdrawal of customers’ principal deposits on 1 September.

So far, 74,221 applications have been submitted across different branches, requesting withdrawals totaling Tk 3,925 crore.

Among them, 24,428 customers have applied to withdraw their entire deposits in a single payment, amounting to Tk 1,388 crore.