Depositors Stage Sit-in at Chittagong Bank Branches

Depositors of five merged banks staged a sit-in in Chittagong on Monday (May 11), demanding full return of their savings, cancellation of “haircut” deductions, and normal banking services.

The protest took place at several branches, including Global Islami Bank in the Enayet Bazar area. Demonstrators said they have been unable to withdraw their money for a long time, causing severe financial hardship.

At the Global Islami Bank branch, depositors first held discussions with officials and later announced that they would continue their protest. They also said similar demonstrations would be held at other branches of the merged banks.

Protesters alleged that neither the government nor Bangladesh Bank has provided any effective solution. They also raised concerns over a decision that allows only 4% profit for depositors of 2024 and 2025, saying it could harm millions of customers.

Many depositors said they are struggling to pay school fees, daily expenses, and family costs due to blocked access to their savings. They demanded that transactions be normalized even if payments are released gradually.

Customers said they have faced difficulties since First Security Islami Bank, Global Islami Bank, Social Islami Bank, Exim Bank, and Union Bank were merged into “Sammilit Islami Bank.” They alleged that withdrawal limits and “haircut” deductions on deposits are unfair and discriminatory.

The protesters announced a peaceful sit-in programme across branches of the merged banks with three demands: full refund of deposits, cancellation of haircut deductions, and restoration of normal banking transactions.