Depositors of five merged banks stage protest in Chattogram

Depositors of five merged Islamic banks staged protests in Chattogram on Wednesday (May 6), demanding full repayment of their savings and the cancellation of the “haircut” mechanism on deposits.

The demonstration began around 11:00am in front of the Bangladesh Bank Chattogram regional office, where protesters gathered under the banner of the Bangladesh Bank Victim Depositors Association, Chattogram division.

They held a human chain followed by a rally.

Protesters alleged that their deposited funds have remained stuck for a prolonged period, forcing severe financial hardship on families and businesses.

Many said they are unable to access their savings even ahead of the upcoming Eid-ul-Azha season, creating uncertainty over essential expenses.

Chanting slogans such as “Return our money,” “We reject haircut,” and “No more delay with depositors’ funds,” they called for immediate restoration of full withdrawal facilities.

One expatriate returnee protester said he had saved money over 25 years of work abroad but is now receiving only partial withdrawals, demanding full repayment of deposits.

The protesters urged Bangladesh Bank to ensure deposit security, remove withdrawal restrictions, and restore normal banking operations to rebuild public confidence.

The affected institutions reportedly include EXIM Bank, First Security Islami Bank, Social Islami Bank, Global Islami Bank, and Union Bank, which are currently under a merger process due to liquidity stress and alleged irregularities.

Earlier in the week, similar protests and bank branch closures were reported in parts of Agrabad and Khatunganj.

During Wednesday’s demonstration, police attempted to control the crowd, but protesters broke through barricades and moved forward.