Dhaka, Bangladesh (BBN) - Bangladesh Bank (BB) has issued the final licence for Sammilito Islami Bank PLC, created through the merger of five distressed Islamic banks, making it the country’s largest state-owned Shariah-based bank.
The central bank said the approval is a key component of the banking sector reform programme launched in September 2024 to restore governance, strengthen accountability, and bring discipline to the financial system.
Under the Bank Resolution Ordinance 2025, EXIM Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and Union Bank were declared failed institutions and placed under resolution, with administrators appointed on November 5.
The central bank of Bangladesh issued a letter of intent and a no-objection certificate for establishing Sammilito Islami Bank on November 9.
As per the BB’s merger roadmap, the new bank will have a paid-up capital of BDT 350 billion — BDT 200 billion to be injected by the government as equity, and BDT 150 billion to come from the deposit-insurance trust fund and institutional deposits.
The combined non-performing loans of the five banks stand at around BDT 1.47 trillion, representing 77 per cent of their total loan portfolios.
BBN/SSR/AD