On Thursday morning, depositors from five merged banks staged a protest outside the central bank’s main gate, demanding the full return of their principal deposits along with accrued interest. The demonstration, which began at 11 a.m., briefly blocked traffic on the main thoroughfare near Shapla Square. Law enforcement intervened, using water cannons to disperse the crowd and restore order.
The demonstrators expressed strong dissatisfaction with government-mandated reductions on their deposits over the past two years. Interest for the fiscal years 2024 and 2025 has been limited to four percent—a rate they claim is insufficient to meet essential household expenses. Many depositors reported that the low returns have caused severe financial hardship, making it difficult to cover family needs and loan obligations. They described the measure as unfair, disproportionate, and inhumane.
The banks involved in the merger are Union Bank, First Security Islami Bank, Global Bank, Social Islami Bank, and Exim Bank, which are being consolidated into the new United Islami Bank. Protestors demanded that the government restore full principal and accumulated profits and allow standard banking operations to resume without delay.
Speakers at the rally emphasised that the directive limiting interest to four percent was issued by the former governor of the central bank. They warned that unless the government acts promptly, depositors will escalate their campaign. A larger mobilisation and a sit-in encircling the central bank are scheduled for 12 March if demands remain unmet.
The table below provides a concise overview of the banks, their merger status, and depositors’ key demands:
| Bank Name | Merger Status | 2024–2025 Interest Rate | Main Demands |
|---|---|---|---|
| Union Bank | Part of United Islami Bank | 4% | Full principal and profit return; normal banking resumed |
| First Security Islami Bank | Part of United Islami Bank | 4% | Full principal and profit return; normal banking resumed |
| Global Bank | Part of United Islami Bank | 4% | Full principal and profit return; normal banking resumed |
| Social Islami Bank | Part of United Islami Bank | 4% | Full principal and profit return; normal banking resumed |
| Exim Bank | Part of United Islami Bank | 4% | Full principal and profit return; normal banking resumed |
Depositors emphasised that only decisive government intervention can resolve the current crisis. They argued that without restoring fair returns and operational normalcy, many families will continue to face severe financial pressure.
Concluding the protest, organisers warned of intensified action if authorities fail to act. They stressed that the central bank’s immediate engagement is critical to safeguarding depositors’ rights and preventing further socio-economic distress.