Plundering of Bangladesh economy!



Ershad Majumdar
Photo: Barta24.com

Photo: Barta24.com

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I have been under home captivity for a long time. I am spending the day lying down and mobile base. I have not prepared any book for this year's book fair. I thought Mr. Alamgir Hossain was working in his office regularly. We are of the same age. So let me try to get started. The first thing that came to mind was the financial sector of Bangladesh. The supervisory body of this sector is Bangladesh Bank. There are some thieves inside this central bank. The big robber named PK Haldar used to patronize the thieves of the central bank. Haldar had to form a huge allied force to launder thousands of crores of rupees. There are people from all walks of life. So he was able to cross the border without any hindrance. Haldar even kept two beautiful women. They entertained Haldar and entertained his guests. In this way, Haldar used to smuggle out money in the hands of influential people in the government and private sectors. In this way, he took possession of four leasing companies and fled the country with thousands of crores of takas.

Mr. Haldar has cleared the way for bankruptcy not only of leasing companies but also of a couple of banks. The responsible officials of Bangladesh Bank knew the matter very well. The issue came to the notice of the government and the general public after small depositors of People's Leasing took to the streets. Bangladesh Bank wanted to quietly or semi-secretly stop People's Leasing. If thousands of small depositors become beggars or die, the governor does not care. The governor does not keep any news that the thieves are sitting inside his bank.

If not, will he get a job? No, I can't. He can even become the finance minister. Earlier, the reserves of Bangladesh Bank were looted. Nothing happened to anyone. Instead, the then governor happily went to Delhi to visit. The then ‘rubbish’ finance minister said it was not much money. Reserve looters smuggled dollars abroad and set up gambling venues. But those who have looted thousands of crores of rupees from leasing companies are in the country. Maybe a few people have been arrested. The main looter is PK Haldar sitting abroad and moving the call stick. The countrymen still do not know the identities of those who helped in looting the country's reserve dollars. They may still be working in Bangladesh Bank. Maybe they have gone abroad. The son of a famous farmer, the former governor is in the country. He probably knows everything. The former ‘rubbish’ minister also knows everything. Although he first said that eight hundred million dollars does not mean much. Later he often said that he would bring back the money.

PK Haldar gathered influential people in his looting gang who helped him in the looting in exchange for money. Haldar used to spend the looted money with both hands. He has empowered his servants. He has made them the owners of crores of rupees. Whoever he wanted would be made MD chairman. It had the support of Bangladesh Bank. Even Haldar had deposited hundreds of crores of money in his mother's name and some banks are going bankrupt. The government is also in disarray. Whoever gave the responsibility took part in the looting. A relative has robbed Basic Bank. Many have lost their jobs in the bank. But nothing happened to the relatives. Maybe in the future he can also become an MP or a minister. A former secretary declared rebellion against a former government and later became a minister. The government was happy and donated a Farmers Bank to the minister. That Farmers Bank eventually became a bone of contention like a farmer. That bank is now Padma Bank. By changing the name, he has now started taking deposits from the people.

As you know, the banks have defaulted on several lakh crores of money. The defaulters are influential people in the society. They became MP, ministers. The worst-hit are state-owned banks. There is no settlement of its deposit. The MD chairman or the board all pay the defaulter in a team. Some shares are distributed here and there. There was no such looting in the financial sector during the half-colony period. Although there was looting, it was limited to five to ten percent. During the Pakistan period the Bengalis had two banks. One is Mercantile (Pubali), the other is Eastern Banking (Uttara). These two were owned by Ak Khan Saheb and Zahirul Islam Saheb. Mr. Zahirul Islam's family still owns Uttara Bank. Mr. Ak Khan was the Minister of Industries during the Pakistan period. We have not heard any notoriety of Mr. Khan as a businessman or a minister. We don't hear much about the family of Mr. Zahirul Islam. However, Eastern Housing has a notoriety for occupying the land of the poor. I have not heard any notoriety of these two families during the Pakistan period regarding bank deposits. In 1983,  the National Bank was established in the private sector with a paid-up capital of only three crore taka. Its initiator and founder was Mr. Mujibul Haider Chowdhury. Many of them have become directors with a capital of five lakhs. At one stage, the directors realized that if Haider Chowdhury existed, they would not be able to loot. So he was expelled. National Bank is still in the possession of Sikdar Group. Now it takes four hundred crore taka to establish a bank. The person who got the license for political reasons sold the shares and became the owner of four or five hundred crore taka. The names of 22 families could be heard during the Pakistan period. Now the names of 22,000 Bengali families can be heard. Several years ago, a former MP known as Dwip bandhu opened an investment company called Bangladesh Commerce. He became an MP and transformed the bankrupt company into a bank and renamed it Bangladesh Commerce Bank. Now rumors are circulating that this bank is also going to be bankrupt.

Now Bengalis earn income in Bangladesh which means they rob banks and take that money to Canada and Malaysia. Now Bengalis earn income in Bangladesh which means they rob banks and take that money to Canada and Malaysia. Build a house there. They get their  sons/daughters married in Pakistan and India. Haldar's name has become very popular inside. For example, Al Amin Group has looted around Tk. 400 crore from People's Leasing. Again they joined hands with Mr. Darbesh to take ownership of People's Leasing. With the help of Mr. Darbesh, the gentleman came forward to take charge of the People's Leasing. He himself has paid money. Now he is saying that he will repay all the money in one hundred years. Just let him or they go abroad. Bank accounts should be opened. PK Haldar is saying the same thing. If given a chance to do business he will return the money and do business regularly. He cannot be arrested. There are still many brokers to broke for Haldar. As I have said before, PK Haldar has paid many brokers to work for him. One of the entertaining women is still out and doing regular office work and lobbying for PK.?

Never before has there been such a big scandal in the financial world as the looting of PK. Many are in the country defaulting on loans of Tk. 15,000 crore and trying to do business. Arefin of Alamin Group is still in the country. If there is effective and strong supervision in the management of the bank, there are not so many defaulters. The rich have realized that once the money is withheld, where will the bank go without baldness again? He has political influence over it. A shining example of this is the revered Darbesh. He took money from the bank in various ways and rescheduled it. He also became the owner of bank insurance. He has a game in the stock market. He has lobbied for Arefin of Alamin Group to take over People's Leasing. The depositors have been wandering behind Arefin for some time. Later it was seen that Arefin himself was sitting on People's Leasing money.

Now the government is in a financial crisis. It is trying to collect money from all around. Finding out where the surplus is to any organization. The government does not have the necessary funds for development at the moment. The revenue collection target is not being achieved this year. Even income tax payers who have no income are sending letters to others asking for advance income tax. Even fear of the law is being shown. The Income Tax Department considers such notices to be their routine work. Earlier, car insurance had first party and third party arrangements. Now the first party has been made mandatory. In the case of public and private companies, this system is fine. But for a middle class who thinks of the transport system in Dhaka city, even if it is a small old car for his family, compulsory first party insurance is a kind of oppression. For a car, the government collects 30/40 thousand takas a year in income tax, road tax, fitness and so on. There is also an annual income tax.

On the other hand, the relatives of the government are taking money from different banks in various ways. Returning the money is secondary. No one has anything to say. Banks fulfill their legal responsibilities by writing regular letters. If too much, make a case. PK Haldar is a new kind and new strategy. He has touched Bangladesh Bank. As a result, the bank's deputy governor and executive director took a monthly salary from PK. If he gave a big bet, he would give them a lot. He is a banker himself, he knows if making paper will kill money. He has bankrupted four leasing companies. Anyone who knew about Haldar's looting would get a share. He had a warehouse of land deeds. He used to buy land in the village very cheaply. He used to mortgage a bank by showing fifty taka for a piece of land, purchasing it for one taka. In this way he has looted ten thousand crores of taka. However, the government has not taken any humanitarian program to return the money to the depositors. On the contrary, Bangladesh Bank has hastily taken initiative to liquidate the small depositors of People's Leasing by making them beggars. Bangladesh Bank has given a license to leasing companies to collect deposits. It is the moral responsibility of the government and the central bank to protect the depositors.