Angry depositors staged a protest in the Khatunganj commercial area on Sunday, demanding the full recovery of their savings from five merged banks and the cancellation of "haircuts" (loss of principal) on their deposits.
The demonstration began Sunday morning as protesters entered several bank branches. By noon, the situation escalated as frustrated customers locked the Khatunganj branch of Union Bank.
The protesters—customers of the recently merged Exim, Social Islami, First Security Islami, Global Islami, and Union Bank (now operating as Sammilit Islami Bank PLC) — expressed deep resentment over withdrawal limits.
"The authorities are making excuses with our hard-earned money," one protester stated. "We have millions of taka deposited, yet they offer us only 1,000 taka when we try to withdraw. This is unacceptable."
Many depositors noted that while they hoped the new government would resolve the liquidity crisis, they have seen no progress in the last two months. They vowed to continue their street programs until their demands are met and they can access their full deposits without any financial deductions.
The five banks were recently merged into Sammilit Islami Bank PLC following a severe liquidity crisis that left them unable to return money to depositors.
