Depositors of five Islamic banks that merged in Chittagong have staged a protest demanding the return of their deposits and the abolition of the ‘haircut’ system.
They formed a human chain and protest march in front of the Chittagong regional office of Bangladesh Bank from 11 am on Wednesday (May 6).
The customers who participated in the program organized under the banner of ‘Bangladesh Bank Victims Depositors Association, Chittagong Division’ complained that they have not been able to withdraw the money they have deposited in the bank for a long time. This has put them in extreme crisis in running their families and businesses. Many said that preparations for the sacrifice have also been uncertain with Eid-ul-Azha ahead.
Participants in the protest raised slogans including ‘I want my money back’ and ‘I don’t pay for haircuts’. A returnee depositor said that he has deposited money in the bank after working abroad for many years, but is now in trouble because he cannot withdraw it.
The main demands of the protesters are to ensure full security of deposits, lift withdrawal restrictions, and quickly resume normal banking operations. At the same time, they seek urgent intervention from the central bank to restore customer confidence.
It is worth noting that due to liquidity crisis and irregularities, these five banks – Exim Bank, First Security Islami Bank, Social Islami Bank, Global Islami Bank and Union Bank – are in the process of merging.
Meanwhile, during the protest, when law enforcement officers tried to stop them, the protesters eventually crossed the barricades and moved forward, causing tension in the area for some time.