Fit-again Shakib, who joined the side on Thursday after missing the tournament due to a finger injury, is the only change in the Bangladesh XI as Abu Hider sits out.
Sri Lanka skipper Thisara Perera said the home side are "happy batting first" and have made two changes to their starting lineup.
Isuru Udana and Amila Aponso come in for Suranga Lakmal and Dushmantha Chameera.
The winner of the match will face India in the final on Sunday.
Sri Lanka: Thisara Perera (capt), Danushka Gunathilaka, Kusal Mendis, Kusal Perera, Upul Tharanga, Jeevan Mendis, Dasun Shanaka, Isuru Udana, Akila Dananjaya, Amila Aponso, Nuwan Pradeep
Bangladesh: Shakib Al Hasan (capt), Tamim Iqbal, Soumya Sarkar, Liton Das, Mushfiqur Rahim, Mahmudullah Riyad, Sabbir Rahman, Mehidy Hasan, Rubel Hossain, Mustafizur Rahman, Nazmul Islam
Umpires: Ruchira Palliyaguruge (SRI), Raveendra Wimalasiri (SRI)
TV Umpire: Ranmore Martinesz (SRI)
Match referee: Chris Broad (ENG)?AFP