Depositors of Sammilito Islami Bank staged a protest and formed a human chain outside Bangladesh Bank in Motijheel in the capital on Thursday, demanding unrestricted access to their deposits and cancellation of the proposed “haircut” on profits.
The demonstration continued from Thursday morning until noon.
During the protest, depositors raised several demands, including the ability to withdraw money from their accounts upon request and the cancellation of profit deductions.
They also warned that they would lay siege to the Bangladesh Bank on March 12 if their demands were not met.
Police later requested the protesters to clear the road. When they refused, law enforcement personnel used batons and water cannons to disperse the crowd.
One of the protesters, depositor Fazlul Rahman, said the government had proposed deducting 4% from the profits earned on deposits over the past two years in five banks.
“We keep deposits in banks. Why should we depend on the government’s mercy? We must receive fair profits,” he said.
Protesters said many depositors had been unable to withdraw their principal deposits or profits from the banks for the past two years. As a result, many families are facing severe financial hardship.
They demanded that the haircut decision be scrapped and that the full deposit amounts, including profits for 2024 and 2025, be returned in line with existing agreements.
They also called for measures to ensure depositors can carry out normal banking transactions and withdraw or deposit funds as needed.
Inspector Salah Uddin of Motijheel Police Station said protesters had taken position on the road during the demonstration.
“Police removed them from the road. The situation is now under control,” he said.
