Depositors of Sommilito Islami Bank will be able to withdraw profit on their deposits from February 1, Bangladesh Bank (BB) Governor Ahsan H Mansur said today.

Speaking at a press conference at BB, the governor said all depositors’ principal amounts would remain fully secure and would be returned gradually, as previously announced.

Currently, customers are allowed to withdraw up to Tk 2 lakh from any deposit scheme, he added.

The governor acknowledged that dissatisfaction has surfaced in various quarters regarding Sommilito Islami Bank but said the authorities are working to address the issues.

“No plan can be implemented with 100 percent success. Problems are identified over time and resolved step by step,” he said, adding that some groups are attempting to obstruct the implementation of Sommilito banking operations.

Mansur said that from January 1 this year, depositors have been receiving profit at market rates.

The profit rate has been fixed at 9.5 percent for deposits with a tenure of more than one year, while deposits with a tenure of less than one year will earn 9 percent.

He said that depositors’ interests are being given the highest priority in the reform process, adding that the government’s 4 percent support for two years is costing an additional Tk 4,500 crore.

Urging depositors to remain calm, he called on the public not to be misled by rumours surrounding the bank.

The development comes several weeks after BB issued a directive to the five merged banks, Exim, First Security Islami, Social Islami, Union, and Global Islami, saying that no profit would be paid to depositors for the calendar years 2024 and 2025.

Following the backlash from depositors, the governor announced that the government would provide a 4 percent payment for those two loss-making years (2024 and 2025).