Aggrieved depositors of five merged Islamic banks on Sunday demonstrated in front of the Bangladesh Bank (BB) headquarters in the capital's Motijheel against the profit haircut for two years -- 2024 and 2025.
Earlier on January 13, the central bank instructed the merged banks in this regard, saying the depositors would not receive any profit for 2024 and 2025 in accordance with the Shariah-based banking principles as the banks had incurred huge financial losses.
But within a few days amid protests and criticisms, the banking regulator retreated from its controversial decision to impose a "haircut" on the two years' profits.
It later decided to allow limited profit payments, setting an annual rate of 4 per cent for 2024 and 2025.
However, the revised rate failed to fully appease depositors, many of whom said it fell far short of their contractual and moral expectations.
Chanting anti-haircut slogans, the protesters under the banner of "Affected depositors of five Islamic banks" demanded full profits against the deposits in 2024 and 2025.
Later, a delegation of them was allowed inside the central bank headquarters amid tight security to place the demands to the regulator.
The protesters ended the demonstration in the afternoon.
The protest took place a day after the government postponed the inaugural ceremony of Sammilito Islami Bank -- formed through the merger of First Security Islami Bank, Global Islami Bank, Social Islami Bank, Exim Bank, and Union Bank -- on security grounds.
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