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Wednesday 11 April 2012

Where did money to open banks come?'

Where did money to open banks come?'
The BNP on Monday questioned the source of money required to open six new banks that the government approved a day before.

The government gave the go-ahead to six new banks to please the people tied to the ruling Awami League and its allies, said acting secretary general Mirza Fakhrul Islam Alamgir at a news conference at its headquarters to give the party's official reaction.

"Establishment of each bank requires security money of Tk 400 crore. Our question is how the owners have earned such a big amount of money only in three years since the government assumed power," Fakhrul added.
He said the decision discounted apprehensions of economists that allowing new banks would not be wise for the endangered economy.

There was widespread criticism that political pressure was at play for driving the decision. On one occasion, finance minister Abul Maal Abdul Muhith himself had said that issuing licences for the new banks was a political will of the government.

The central bank, however, has been refuting the allegation of political consideration as it gave nod on the condition that the security money must be 'white money.'Union Bank, Midland Bank, Madhumoti Bank, Farmers Bank, South Bangla Agriculture and Commerce Bank and Meghna Bank are to open.

It was reported that Jatiya Party chairman Hussein Muhammad Ershad has connection with Union Bank. Shahidul Alam is the chairman of the bank. Gholam Mosi, who was international affairs secretary of Jatiya Party, was named as one of the sponsors of the bank.

Awami League MP Mohiuddin Khan Alamgir is the chairman of the Farmers bank. Prime minister Sheikh Hasina's income tax adviser M Moniruzzaman Khandaker proposed the Midland Bank.SM Amzad Hossain is the chairman of South Bangla Agriculture and Commerce Bank, which also includes Dhaka University teacher and Ghatak Dalal Nirmul Committee chairman Abdul Mannan Chowdhury as one of the sponsors.AL MP HN Ashikur Rahman is the chairman of Meghna Bank while another AL MP Nasrul Hamid is one of the directors.

Rampal power plant

Fakhrul also demanded that the power plant to be established at Rampal adjacent to the Sundarbans be relocated.A joint initiative of India-Bangladesh, the coal-based power plant already received environmental clearance despite claim by environmentalists that the plant would deal a major blow to the world's largest mangrove forest.

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