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18,000 depositors apply on first day at Combined Islamic Bank

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18,000 depositors apply on first day at Combined Islamic Bank
Nearly 18,000 customers applied on the first day to get back their deposits from Combined Islamic Bank. A total of about Tk 1,300 crore has been sought back against these applications.

On Wednesday (September 2), around 12:00pm, this information was learned from bank sources.

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Among them, 2,367 depositors applied to withdraw the full principal amount of their deposits at once. In their applications, a total of Tk 244 crore was sought to be refunded.

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According to the bank's decision, applicants will be able to withdraw the principal amount of their deposited money from next September 7. For this, the application process that began on September 1 will continue until September 7. Customers must submit applications by going to the relevant branch or sub-branch.

This information was communicated in an instruction sent from the head office to all branches on August 31. According to the instructions, applications received at the branch level will be sent to the head office. Later, when the necessary cash is sent to the branch according to customers' demand, money will be paid from there.

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For now, only individual depositors can withdraw the principal amount of their deposited money. Profit earned against deposits will be paid later. On the other hand, institutional depositors cannot withdraw money at present outside the announced scheme.

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An official of the bank said that although there was a plan to start returning money from September 1, it was postponed by one week to September 7 due to time needed to complete some formalities.

In the withdrawal application, customers must mention the total deposit amount in their account, how much money they want to withdraw, and the specific reason for withdrawal.

It may be noted that five private banks that fell into crisis during the Awami League government—EXIM Bank, Social Islami Bank, Union Bank, Global Islami Bank and First Security Islami Bank—were merged to form ‘Combined Islamic Bank’.

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