On Thursday (March 5), depositors of five merged Islamic banks—Union Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and Exim Bank—held a protest and sit-in outside Bangladesh Bank, demanding the full return of their deposits along with profit.
The protest escalated when demonstrators blocked the main road at Motijheel Shapla Chattar, prompting law enforcement to use water cannons to disperse the crowd.
The depositors condemned a controversial decision by a former Bangladesh Bank governor that capped profits on 2024–2025 deposits at 4%, a move widely referred to as a “haircut”, which they call unjust and inhumane. Many depositors claim they are now struggling to meet daily expenses due to the reduced returns.
During the protest, demonstrators called for the cancellation of the haircut decision and demanded the immediate refund of their full deposits to restore confidence in the ongoing bank merger process.
They warned of stronger action, including a full siege of the Bangladesh Bank on March 12, if their demands are not met. The demonstration caused significant traffic disruption in Motijheel, and security forces were deployed in large numbers.
The incident highlights growing unrest among depositors and the urgent need for government intervention to stabilise the banking sector and restore public trust.
