Sammilito Islami Bank Depositors Protest ‘Haircut’ Decision

Depositors of Sammilito Islami Bank staged a human chain and sit-in in front of Bangladesh Bank on Wednesday (5 March), demanding cancellation of the proposed “haircut” decision on deposits.

Around 50 depositors gathered outside the central bank around 11am and held a one-hour protest. Demonstrators alleged that under a decision taken during the tenure of a former governor, depositors of several Shariah-based banks may receive only a 4 percent government concession after deducting profits from the past two years.

Protesters described the move as unjust and said many depositors have been unable to withdraw their principal or profit for nearly two years, causing serious financial hardship.

They placed three demands: cancellation of the haircut decision, payment of full deposits along with profits for 2024 and 2025, and normalisation of banking operations at Sammilito Islami Bank.

The protesters warned that if their demands are not met, they will stage a siege programme at Bangladesh Bank on 12 March.