Economic development
Bangladesh needs to advance in the indices of freedom and prosperity
Bangladesh achieved independence through the sacrifice of the blood of 3 million martyrs. The objective of this independence was to break free from the oppression and atrocities of Pakistan. Not only the Pakistani regime, but for two years, the British rule also inflicted torture upon the people of Bengal. Even the Mughals and Pathans never recognized the rights of the people of this land. It means that for thousands of years, the people of Bengal have been subjected only to oppression. The Liberation War of 1971 was a fight against centuries of subjugation. It symbolized the aspirations of the people for eternal freedom. However, that freedom and prosperity are now being questioned.
We need to be more cautious about borrowing foreign loans
After gaining independence, an American development economist visited Bangladesh and delivered a speech to Dhaka University's faculty, addressing the sluggish pace of the country's economic development. In the midst of his presentation, a young professor from Dhaka University boldly asserted, "Our development is stymied by unnecessary interference in our economy from external sources like yours." Upon hearing this critique, the American professor paused before responding with a stark observation: "Consider that 80 percent of your nation's economy relies on debt from countries like ours." This revelation left the young professor speechless for the remainder of the discussion, underscoring the harsh reality of Bangladesh's economic dependency.
Intentional or not, a loan defaulter remains loan defaulter
Banking plays an extremely crucial role in the economic development of any country. Particularly in Bangladesh, where the capital market is relatively weak, the significance of banking accounts for a substantial portion of the nation's economy. Entrepreneurs in Bangladesh often need to approach banks primarily to meet the financial requirements for establishing industries, factories, and business establishments.
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