Sammilito Islami Bank gets final licence

Bangladesh Bank has granted the final licence to Sammilito Islami Bank PLC, created through the merger of five struggling Islamic banks, making it the country's largest state-owned Shariah-based lender.

The central bank said the approval is part of a broader banking sector reform programme launched in September 2024 to restore governance, ensure accountability, and bring discipline back to the financial system.

Under the Bank Resolution Ordinance 2025, EXIM Bank PLC, First Security Islami Bank PLC, Global Islami Bank PLC, Social Islami Bank PLC, and Union Bank PLC were declared failed institutions and placed under the resolution. Administrators were appointed to each bank on November 5, 2025.

Earlier, on November 9 this year, Bangladesh Bank issued a letter of intent (LoI) and a no objection certificate for establishing Sammilito Islami Bank.

Following compliance with the LoI conditions, the proposed bank was registered with the Registrar of Joint Stock Companies and Firms.