Sammilito Islami Bank sets up War-Room desk to boost investment recovery

Sammilito Islami Bank PLC has formed a dedicated desk, titled “Collection & Recovery War-Room”, to accelerate and strengthen its investment collection and recovery activities and make them more effective and results-oriented.

Abedur Rahman Sikder, managing director of the bank, inaugurated the desk at a ceremony held at the bank’s corporate headquarters in Dhaka today, according to a press release.

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Speaking at the meeting, Abedur said, “Collection & Recovery should not be viewed merely as a routine banking activity; rather, it must be treated as one of our highest priorities for protecting depositors’ interests and supporting the bank’s financial recovery.”

He added that effective and timely recovery would strengthen the bank’s financial capacity and liquidity position, thereby enhancing its ability to repay depositors.

The bank’s MD said good governance, transparency, accountability and professionalism would be ensured at Sammilito Islami Bank.

He called upon all officers and employees to work with sincerity, integrity, dedication and responsibility to build the bank as a modern, technology-driven, customer-friendly and professional Islamic bank.

“Transforming Sammilito Islami Bank into a modern, strong and sustainable bank is our collective responsibility, and every colleague must therefore perform their duties with the highest level of sincerity, accountability and sense of responsibility,” he added.

He expressed optimism that the coordinated and intensive activities of the Collection & Recovery War-Room would deliver visible progress in investment recovery and help safeguard the interests of the bank’s depositors, customers and other stakeholders more effectively.

The event discussed the bank’s current investment recovery status, recovery strategies for large borrowers, collection targets, necessary legal measures and future action plans.

The bank is a state-owned Islamic bank formed through the transfer of all assets and liabilities of EXIM Bank PLC, Social Islami Bank PLC, First Security Islami Bank PLC, Global Islami Bank PLC and Union Bank PLC.

To strengthen the bank’s capital base, a capital structure of Tk 35,000 crore has been arranged, comprising Tk 20,000 crore from the government and Tk 15,000 crore from depositors.

Senior officials from the five constituent banks, along with officials from the recovery and legal divisions, also attended the event.