Sammilito Islami Bank depositors stage protest in front of Cenbank over ‘haircut’ decision

Depositors of Sammilito Islami Bank staged a human chain and sit-in programme in front of the Bangladesh Bank this morning (5 March), demanding the cancellation of the proposed “haircut” decision and pressing a three-point demand.

Around 11am, nearly 50 depositors gathered in front of the central bank and began their protest. The demonstrators said they would continue the sit-in for an hour to press home their demands.

Speakers at the human chain alleged that under a decision taken during the tenure of a former governor of Bangladesh Bank, depositors of five Shariah-based banks would receive only a 4% government concession after deducting the profits of the past two years from their deposits. They termed the decision inhumane and unjust for depositors.

They said, “For the past two years, many depositors have not been able to withdraw their principal or profits from these banks. As a result, many families have fallen into severe financial hardship and are leading extremely difficult lives.”

The protesters demanded that the “haircut” decision be scrapped and that depositors be paid the full amount of their deposits along with the profits for 2024 and 2025 in accordance with their agreements.

They also called for all types of banking transactions at Sammilito Islami Bank to be normalised, similar to other scheduled banks.

During the protest programme, the depositors warned that if their demands are not met, they will organise a siege of the Bangladesh Bank on 12 March.