Five Merged Banks: Customers can withdraw up to Tk 10 lakh
Five merged banks now allow customers Tk 10 lakh to encash for treatment, emergency use. Agamir Somoy.
Customers of the troubled five merged banks can now withdraw up to Tk 10 lakh for emergency needs, in addition to medical treatment. Previously, this facility was available only for their own treatment.
Now, the Bangladesh Bank has approved withdrawals for the treatment of parents, children, siblings, and spouses, as well as for other urgent necessities. At the individual level, ordinary customers could previously withdraw only up to Tk 2 lakh. No decision has been made yet regarding corporate customers regarding refunds.
The decision was taken today (Wednesday) at a meeting of the Bangladesh Bank's board of directors, chaired by Governor Mostaqur Rahman.
A senior official of Bangladesh Bank, speaking on condition of anonymity, said that the announced scheme for returning depositors' money has been amended to allow withdrawals for emergency needs alongside medical treatment. Special emphasis has been placed on the treatment needs of family members.
A Bangladesh Bank official said that many customers of First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, and Exim Bank suddenly need money beyond medical expenses. Some need it for a family member's treatment, while others may need it for other urgent household expenses. Since the previous scheme did not allow that, it has been added through amendments.
Last year, the interim government merged five Shariah-based banks that were in crisis to form the United Islami Bank. The bank's paid-up capital has been fixed at Tk 35,000 crore, of which the government has provided Tk 20,000 crore. For the remaining Tk 15,000 crore, depositors will be given shares.
In addition, a programme is underway to pay deposits up to Tk 2 lakh using Tk 12,000 crore from the Deposit Insurance Fund. According to Bangladesh Bank data, so far 822,000 depositors have been paid Tk 3,887 crore. Among them, only 350,000 customers of First Security Islami Bank have received Tk 1,600 crore.
According to Bangladesh Bank data, at the end of last December, the total outstanding loans of the five banks stood at Tk 195,000 crore. Against this, the collateral amount was Tk 47,900 crore, which is 24.56% of total loans. Currently, the banks' non-performing loans stand at Tk 170,500 crore, which is 87.43% of total loans.
