Bangladesh Bank announced that depositors of five troubled Islamic banks undergoing merger will be able to withdraw up to Tk 200,000 from next Monday. The funds will be disbursed through the Deposit Insurance Fund, and withdrawals can be made directly from the respective branches. The five banks—First Security Islami Bank, Global Islami Bank, Social Islami Bank, EXIM Bank, and Union Bank—are being consolidated into the newly approved Combined Islami Bank PLC.

According to central bank officials, the withdrawal process faced initial complications but is now ready to proceed. Customers with deposits exceeding Tk 200,000 will be allowed phased withdrawals every three months, while senior citizens and cancer patients will face relaxed restrictions. The new bank’s paid-up capital is set at Tk 350 billion, with Tk 200 billion from the government and Tk 150 billion from the insurance fund.

The merger aims to restore depositor confidence and stabilize the banking sector after years of loan defaults. Bangladesh Bank has also ordered the cancellation of existing shares of the five banks due to negative asset values under the Bank Resolution Ordinance.