Finance Minister Amir Khosru Mahmud Chowdhury has announced significant measures to guarantee the protection of depositors, assuring that depositors would receive their money back with interest.
He confirmed that no “haircut” [deduction of deposit value] would be applied.
Speaking in Parliament on Wednesday, Khosru provided these details while responding to a notice of urgent public importance raised under Rule 71 by Rehana Akter Ranu, a lawmaker from a reserved women’s seat.
He informed House that the government has enacted the “Bank Resolution Act, 2026” to restore stability to the financial sector.
Under this legislation, five troubled banks – Export Import (EXIM) Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and Union Bank – have been merged to form “Sammilito Islamic Bank PLC.”
The minister assured that the interests of depositors from these banks would be fully protected under the new entity, stating there is no reason for concern.
“This is a heartbreaking situation,” Khosru said. “However, I want to reassure depositors that they will get their money back with interest. Since the funds will be returned with interest, the question of a ‘haircut’ does not arise.”
He added that as the banks are currently incurring losses, the completion of the entire process would require some time.
The minister further disclosed that the deposit protection limit has been increased from Tk1 lakh to Tk2 lakh under the deposit insurance law. Additionally, special forensic audits are being conducted to investigate irregularities and cases of embezzlement within the banking sector.
According to Section 57 of the Bank Resolution Act, measures will be taken to recover customers’ money by freezing, auctioning, or selling the domestic and foreign properties and funds of the responsible individuals or institutions.
Regarding the recovery of money laundered abroad, Khosru said the process of appointing nine international law firms on a “no win, no fee” basis has commenced. These firms will only be remunerated if the funds are successfully recovered.
He also noted that, in the primary stage, civil proceedings have been initiated against six major business groups out of 11 priority cases. These groups include S Alam, Beximco, Sikdar Group, Nassa Group, Orient Group, and groups associated with Saifuzzaman Chowdhury.
Earlier, while raising the notice, MP Rehana Akter Ranu said approximately 7.5 million depositors from the five troubled banks are living in anxiety.
She demanded that no “haircut” be imposed on their deposits and called for those who looted public money to be brought back from any corner of the world to face strict punishment, suggesting ‘egg therapy’ to recover the funds.
Ranu emphasised that these deposits are not for luxury, but represent a father’s dream for a daughter’s wedding, a mother’s last hope for medical treatment, a student’s future tuition fees, or the hard-earned capital and pensions of small business owners and retirees.
She warned that if people lose trust and stop keeping money in banks, investment will decrease, the flow of money will stop, and the national economy will face a deep crisis.
She highlighted that some individuals are currently unable to afford medical treatment because they cannot withdraw their own money, with some even passing away due to a lack of timely care.
Meanwhile, she noted, “looters” are living comfortably abroad. She called upon the finance minister to auction all properties of these “bank-eating” owners to return the money to the helpless citizens who are looking to the government for justice.
