Law-enforcers used water cannons to disperse protesters in front of the Bangladesh Bank in the capital on Thursday, as many depositors of five banks undergoing a merger staged a sit-in there, demanding the return of their full deposits with interest. — FE Photo Depositors of five crisis-hit and merged Islamic banks staged on Thursday a protest and also formed a human chain in front of the Bangladesh Bank headquarters in the capital's Motijheel area.
They demanded the immediate release of their funds and the cancellation of a proposed "haircut" policy that would significantly reduce their profit payouts.
The depositors belong to the five recently merged entities - EXIM Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank.
The merged bank has been named Sammilito Islami Bank.
The protesters also demanded full repayment of their principal amounts and promised profits, opposing a decision to limit profits for 2024-2025 to 4 per cent, which they described as "inhumane and unjust".
Many depositors have been unable to withdraw their money for nearly two years.
On Thursday, they blocked the main road at Shapla Chattar, forcing police to use water cannons and batons.
Several individuals were also detained.
The protesters warned they would besiege the Bangladesh Bank on March 12 if their demands were not met.
The protest followed a tumultuous period at the central bank.
In this period, there were demonstrations by Bangladesh Bank officials and the removal of the previous governor, Ahsan H Mansur, on February 26.
talhabinhabib@yahoo.com
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