Depositors of five shariah banks, which were merged into United Islami Bank PLC, will be able to receive their money back from Thursday, January 1.
Each eligible depositor will initially receive up to Tk 2 lakh from their current and savings account.
Those who have balances above Tk 2 lakh can withdraw a maximum of Tk 2 lakh now and will be able to receive up to Tk 7 lakh – 1 lakh after every three months, according to a notification issued by the Bangladesh Bank.
Deposits of a three-month tenure individual account can be withdrawn after renewal three times automatically, and deposits of a six-month term individual account will be refunded after renewal two times automatically.
The five troubled Shariah banks are First Security Islami Bank, Global Islami Bank, Social Islami Bank, Exim Bank, and Union Bank.
These banks are being acquired by the newly formed 'Sammilito Islami Bank PLC' or United Islami Bank PLC, which has already started operation.
With inputs from UNB
EAR/MSU