B.Mirror Desk: After facing various limitations for a long period, Sammilito Islami Bank PLC is now focusing on ensuring normal banking services for its customers. The bank’s Managing Director (MD) and Chief Executive Officer (CEO), Md Abedur Rahman Sikder, said restoring customers’ confidence is now one of the bank’s key priorities.
In a recent interview, Abedur Rahman Sikder said customers keep their hard-earned money in banks so that they can use it when needed. For bankers too, it is painful when they cannot provide customers with their money at the time of need. Therefore, ensuring customers can conduct normal transactions is being given special importance.
According to the bank authorities, individual savings and current account customers are currently able to deposit and withdraw money as needed. A customer can even withdraw the full balance from their account if they wish. At the same time, arrangements have been made to provide regular profits to customers holding monthly profit-based accounts.
The bank’s MD said customers with term deposits, DPS and monthly schemes will also have the option to withdraw their principal deposits if they do not wish to continue banking with the institution.
The bank authorities had expected that many customers would withdraw all their money once normal transaction facilities were restored. However, Abedur Rahman Sikder said the actual situation has been somewhat different.
According to him, many customers have shown interest in keeping their money in the bank while continuing their transactions. Many have also said they would maintain their relationship with the bank if they continue to receive regular profits. He sees this as a positive signal for the bank.
He believes that the confidence of customers who remained with the bank despite its long-standing limitations will play an important role in its future operations.
He said there was previously a degree of anxiety among employees about how customers would be served when they visited branches. Now that transaction facilities have expanded, employees have also become more motivated and confident in carrying out their duties.
Abedur Rahman Sikder also said the bank has received positive responses from expatriate customers. In particular, several customers living in the Middle East have expressed their satisfaction through phone calls and messages, he said.
Many expatriate customers do not want to withdraw their money; rather, they want to continue banking with Sammilito Islami Bank. According to the bank, the reduction in uncertainty after a long period has brought a sense of relief among these customers.
Abedur Rahman Sikder said one of the main purposes of keeping money in a bank is to be able to use it when needed. Arrangements are being made to provide customers with the necessary funds during emergencies, based on proper consideration of their needs.
He said there are currently no major restrictions on deposits and withdrawals from individual savings and current accounts. Customers can also open new accounts. If any customer wants to end their relationship with the bank, they have the option to withdraw their principal deposit.
The bank’s MD hopes that if these initiatives continue, the bank’s operations will become more normal within a short period and customer confidence will grow stronger.
Alongside normalising individual transactions, Sammilito Islami Bank is also planning to gradually expand its business activities. Key areas of the bank’s business include retail banking, small and medium enterprises (SMEs), and the corporate sector.
Due to various limitations in recent times, some business customers have increased their transactions with other banks. The bank is now taking initiatives to strengthen business relationships with those customers again.
Abedur Rahman Sikder said that, in the first phase, priority would be given to further strengthening relationships with existing and trusted customers. After bringing back customers who previously conducted business with the bank on a large scale, the bank will focus on attracting new customers.
He expressed hope that once the bank’s operations become fully normal, it will have greater opportunities to expand its business by utilising its strong capital base.
To provide integrated services to customers, Sammilito Islami Bank plans to open a model branch in Gulshan, Dhaka, within this September. The bank’s MD said the target is to launch the branch by September 30.
The branch will operate under Sammilito Islami Bank’s own identity. Customers of the previous five banks will also be able to receive services from this branch.
Abedur Rahman Sikder said the initiative to open the model branch was taken with the idea of providing services to customers of the previous five banks from a single branch. There are multiple branches of the former banks located close to one another in different areas. In the future, the bank plans to consolidate these branches based on requirements and business activities.
The Gulshan model branch is being considered the first step in this plan. The bank also plans to gradually increase the number of such branches.
Abedur Rahman Sikder said Sammilito Islami Bank aims to build a strong and modern bank by utilising its existing branches, sub-branches, ATM network and workforce capabilities.
He said the bank is focusing not only on ensuring necessary services for customers but also on creating a disciplined and professional working environment within the institution. He also noted that the bank’s employees are working sincerely.
According to Abedur Rahman Sikder, establishing trust and discipline in the financial sector has a positive impact on the overall economy. Expanding bank branches and services can increase local economic activity while also creating opportunities to bring people outside the formal banking system into formal financial services.
He expressed his determination to build an institution that will provide technology-driven and quality banking services in the future, so that both customers who conduct transactions with the bank and employees who work there feel satisfied and proud.
Expressing gratitude to the customers who remained with the bank despite the prolonged difficult situation, he said they want to establish Sammilito Islami Bank as a strong and trusted bank based on those customers’ confidence.