Dhaka, Jan. 22 -- Bangladesh Bank has reversed its earlier decision and approved profit payments for depositors of five merged banks following criticism and protests.

The central bank conveyed the decision to the administrators of the banks through official letters.

On Thursday, Bangladesh Bank spokesperson Arief Hossain Khan told bdnews24.com that depositors would receive profits for the 2024-25 financial year, reports bdnews24.com.

"The previous decision has been reviewed and changed," he said.

He noted that administrators have been instructed to pay profit at a 4 per cent rate for a period of two years.

The regulatory about-face follows a contentious order issued on Jan 15, which had declared a total freeze on profits.

At that ti...