Depositors of merged banks stage demo in Ctg

Depositors staged demonstrations at branches of five merged banks in Chattogram’s Khatunganj area on Sunday, demanding their deposits back and cancellation of the “haircut” policy.
The banks include First Security Islami Bank, Global Islami Bank, Union Bank, Social Islami Bank and EXIM Bank. 
Protesters also locked the branches of Union Bank PLC and EXIM Bank during the demonstration.
Sources said more than one hundred agitated clients entered the Union Bank branch around 10am and demanded the return of their deposited money. 

Later, from around 11:30am to 1pm, they continued sit-in programmes at the branches of First Security Islami Bank, Global Islami Bank, Social Islami Bank and EXIM Bank.
On information, police from Kotwali police station rushed to the spot and tried to calm the protesters. They later unlocked two affected branches.
Under directives from the central bank, the five institutions are currently operating under a consolidated structure involving the five Islamic banks.
The protesters alleged that while bank officials continue to receive salaries, bonuses and other benefits without disruption, ordinary depositors are being deprived of access to their savings, despite investing in the banks in hopes of earning profits. 
One of the protesters, Jahanara Begum, alleged, “Now we are being told that except for the 4% profit for 2024-25, the remaining amount will be deducted from the principal under the haircut decision. At the same time, FDRs that have not yet matured are not being allowed to be encashed.”
However, branch managers could not provide any immediate solution regarding the protesters’ demands.

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Bank insiders said large-scale payments are not possible without approval from Bangladesh Bank or the respective head offices. 
Officer in-Charge (OC) Aftab Uddin of Kotwali police station said, “Similar protests are taking place in different parts of the country. We spoke with both the protesters and bank authorities, and informed our higher authorities about the situation.”