Sammilito Islami Bank depositors protest in Ctg over merger fallout, haircut policy

Depositors of Sammilito Islami Bank staged a human chain and protest programme in Chattogram today (29 June), raising a five-point demand which includes withdrawal of the haircut policy and the return of deposits and profits as per contractual agreements.

The programme, organised under the banner of "Aggrieved Customers of Sammilito Islami Bank", was held in front of the Bangladesh Bank office in Chattogram at around 11am.

Other demands in the five-point charter include restoration of normal transactions at the five banks, special assistance to address the liquidity crisis, payment of matured FDR, DPS and MTDR funds, and withdrawal of the newly announced profit rates in favour of previously agreed rates.

They warned that if their demands were not met promptly, they would launch tougher programmes, including sit-ins at bank branches, demonstrations targeting branch managers and protests outside Bangladesh Bank.

Participants said a resolution issued by Bangladesh Bank on 21 January 2026 decided to reduce profits earned on deposits over the previous two years at the five merged Shariah-based banks and provide a special benefit of only 4%.

They claimed the decision had pushed lakhs of ordinary and middle-class depositors into financial hardship.

According to the protesters, many depositors are retired employees, expatriates, small business owners and middle-class families.

They said people who deposited pension funds, proceeds from land sales and remittance savings have been unable to access their money for an extended period, creating difficulties in meeting medical, educational and daily living expenses.

The speakers said they had submitted memorandums to senior government policymakers, Bangladesh Bank and other relevant authorities on several occasions over the past two years and had also organised peaceful demonstrations.

However, they alleged that no effective solution had yet been provided.

Earlier, on 17 June, depositors of Sammilito Islami Bank organised a road march in the city demanding the return of their savings and the restoration of normal banking services.

Depositors have been protesting for several months over the haircut policy and disruptions to banking operations at the five banks involved in the merger process.

The banks are EXIM Bank, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank.

According to the association, the five banks collectively hold deposits worth Tk1.31 lakh crore belonging to around 75 lakh customers.

In May, depositors demonstrated by locking at least nine branches of the five banks in Chattogram as part of their protest campaign.