Sunday, 7 July 2024

Zeauddin Ahmed

Economist
Sat, 23 Sep 23

Former Managing Director of Bangladesh Bank and Former Managing Director of The Security Printing Corporation (Bangladesh) Limited, or Takshal

Boycott is now a major tool in global politics

Politics and Bureaucracy

Fri, 5 Jul 24

Boycott is now a major tool in global politics

There is an ongoing debate on social media about the boycott of Coca-Cola. A survey was conducted in Bangladesh to determine the number of people in favor and against the boycott. The survey revealed that 89% of people are in favor of boycotting Coca-Cola. The call to boycott Coca-Cola was made after the Israeli attack on Gaza last October, but it did not receive much response initially. Recently, a Coca-Cola advertisement has reignited the subdued boycott campaign. The advertisement claimed that Coca-Cola's owner is not Jewish and that they have a factory in Gaza. Following this, renewed calls to boycott Coca-Cola have emerged. Taking advantage of this opportunity, the emotions of Bangladeshi citizens are being leveraged to boost the sales of local soft drinks. The company behind the local brand 'Mojo' has launched a campaign called 'Mojo Support Palestine' to stand by the affected people of Palestine.

Corruption and Power of Matiur Defeat Badiur Rahman

Politics and Bureaucracy

Sun, 30 Jun 24

Corruption and Power of Matiur Defeat Badiur Rahman

I was listening to Sheikh Badiur Rahman on Desh Television discussing Matiur Rahman, President of the Customs, Excise, and VAT Appellate Tribunal of the National Board of Revenue (NBR). Badiur Rahman was the Chairman of the NBR during the army-backed caretaker government. He joined Bangladesh Bank as an 'Officer Class One' in 1976 and later moved to Cadre Service after passing the BCS examination. I remember seeing him at the house of my elder brother Mohiuddin Ahmed, Secretary of the Ministry of Foreign Affairs. During their conversation, I noticed that Badiur Rahman only ate puffed rice (muri).

No restriction on journalists entering Bangladesh Bank

Bank

Fri, 21 Jun 24

No restriction on journalists entering Bangladesh Bank

The journalists boycotted the post-budget press conference chaired by the finance minister due to the ban on their entry to Bangladesh Bank. Traditionally, this annual event includes the governor's significant role in addressing questions on various economic issues such as inflation, government loans, liquidity crisis, defaulted loans, money laundering, and reserves. However, this year, journalists protested by refusing to attend the conference if the governor spoke, leading to his exclusion from the Q&A session. Consequently, questions that would typically be addressed by the governor were instead answered by Finance Minister, Prime Minister's Finance Advisor Moshiur Rahman, State Minister for Finance Wasika Ayesha Khan, and Finance Secretary Md. Khairuzzaman Majumdar.

Fearless diplomat Mohiuddin Ahmad

Diplomacy

Wed, 19 Jun 24

Fearless diplomat Mohiuddin Ahmad

We are five brothers and two sisters, diplomat Mohiuddin Ahmad, our second brother. He was an economics student at Dhaka University, on an interviewing scholarship he went to Karachi in West Pakistan to do his Masters. After completing his Masters in 1965, he took a job as a translator in Pakistan Radio, with a monthly salary of 200 taka. We were three brothers and one sister, school and college students. Our father Abdur Rashid Master passed entrance from GA Academy School, Feni under Calcutta University in 1924. In 1926, a zamindar Gangadhar of GM hat area of Feni established a minor school on the land given by Majumdars and he was the founding headmaster of that school. English medium schools with sixth standard were then called minor schools.

No one Knows about corruption of powerful while they are in power!

Politics and Bureaucracy

Mon, 10 Jun 24

No one Knows about corruption of powerful while they are in power!

I find it hard to believe the widespread allegations of Benazir Ahmed, the former Inspector General of Police, amassing substantial illegal wealth; after all, he had received the Integrity Award from the Ministry of Home Affairs. Integrity refers to righteous conduct, good behavior, and actions enriched with principles and ethics. The norm is to award officials and employees for honesty, integrity, and dedication to duty. Benazir Ahmed not only received the Integrity Award but also won the BPM Award five times for his brave role in the police force. If he lacked integrity, it would be unlikely for him to receive the BPM Award five times solely for his courage.

In the perspective of free market economics, closure of all weak banks is necessary

Bank

Thu, 30 May 24

In the perspective of free market economics, closure of all weak banks is necessary

In 2023, the Bangladesh Bank issued a circular titled 'Prompt Corrective Action Framework' to address the crisis of weak banks. The circular stated that if banks fail to improve their situation through the implementation of the framework, the Bangladesh Bank may take steps to consolidate them from 2025 onwards. Merger, or 'consolidation,' refers to the coming together of two or more companies into one. There have been extensive discussions and debates regarding the Bangladesh Bank's initiative to merge weak commercial banks with stronger ones. However, this arrangement is not truly a merger but rather a rescue operation for struggling banks.