Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Saturday, September 22, 2018 04:31:50 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Banks turn predator to honest businessmen

Share your thought
Post a comment »
Read all () »

Special Correspondent  :
The suicide of businessman and owner of a garment factory at Fatulla in Narayangonj has come as a big shock to the family and the business community as he died of mounting pressure from loan liabilities to banks and private individuals.
Outwardly the blame goes to him for such cowardly act but the prevailing business environment and banking system also can’t avoid the major part of the blame.
This is because our system is focused on buttering the rich while small and honest businessmen have been left to survive by their own without much support from banks and financial institutions.
Big business and corporate houses and influential people are swindling banks and financial institutions with impunity under the shelter of powerful political quarters.  Matin left a suicide note before he hanged himself in which he said, "None is responsible for my suicide; I commit it being a debtor of around Tk 2.5 crore to banks and different people. It is humiliating and intolerable to live any more.
Mamunul Abed, a police officer at Fatullah Police Station and Investigation Officer (IO) of the case told The New Nation that primarily, it seems to us that he committed suicide for being a debater. But we’re yet to confirm the situation that led  him to commit suicide.  
“Matin earlier took loan from banks to run his factory and his brother repaid it as he was failing. But he has also taken massive loans from his friends and well-wishers and was recently under pressure to repay. He was gloomy and depressed,” police said quoted his brother as saying.
Md Nazrul Islam, elder brother of Matin, could not be reached for further clarifications. .  
“Further investigation is needed to unearth the real cause behind his suicide,” police said.
When asked, the IO said, “We are yet to question Matin’s family and delaying as they are now in grief.”     
Nadia Sultana, wife of the deceased, however said, her husband left them in the dark. If  he had  informed us, we could arrange to pay the debts.
“Actually he (Matin) was in family crisis,” a former BKMEA leader told The New Nation, seeking anonymity. He said Matin’s factory NM Fashion was enlisted with BKMEA but the membership remained suspended.
It appears that Matin was not doing well in business, because he failed to manage it profitable facing problems ranging from paying workers regularity and also repay bank loans.
The cost of doing business shot up while high interest rate on bank loans caused by rampant loan scams pushed him to the wall and disqualified him as an eligible borrowers at the end.
Even though big businesses enjoyed loan-rescheduling facilities he failed avail of such facilities to be able to get fresh loans.  
The situation amply prove that banks turned into predator to small and honest businessman while buttering big ones with repeated impunity by way of loan rescheduling, None came to his rescue and so he lost interest in business and his life as well at the end. He felt helpless and betrayed. The suicide was not the answer to his problem but our present business environment had pushed him to that fatal decision.

Add Rate

News Archive

Inside The New Nation

Editorial »

Rohingya crisis: UN is helpless without active cooperation of int'l community

THE United Nations was established with a mission to stop brutality and promotion of human rights across the globe but at present is apparently helpless to stop the Myanmar military atrocity on Rohingya ethnic community. Though the Universal Declaration of Human Rights, International Covenant on Civil and Political Rights, the ...

Cricket »

India rout Pakistan by eight wickets in Asia Cup

AFP, Dubai :India crushed Pakistan by eight wickets in their long-awaited Asia Cup match which failed to live up to its hype in Dubai on Wednesday.Pace spearhead Bhuvneshwar Kumar (3-15) and part time off-spinner Kedar Jadhav (3-23) sent Pakistan, who won the toss and batted, collapsing to just 162 all ...

Football »

We aim to play SAFF U-16 Women's final: Choton

Bangladesh U-18 national women's football team head coach Golam Rabanni Choton said they aim to play the final of the SAFF U-18 Women's Championship which is scheduled to be held from September 28 to October 7 in Thimpu, Bhutan.He was speaking at a pre-departure press conference on Thursday at the ...

International »

US-North Korea relations making 'tremendous progress': Trump

President Donald Trump on Wednesday said US relations with North Korea are making "tremendous progress" from the days before his presidency when the two countries appeared close to "going to war."Trump said a recent letter from North Korean leader Kim Jong Un confirmed the positive track, which he said has ...

City »

Newly elected executive members of Bangladesh Photo Journalists Association paid a courtesy call on Shipping Minister Shajahan Khan at his ministry on Thursday.

Entertainment »

Not always necessary to do issue-based films: Yami Gautam

Actress Yami Gautam, who stars in Batti Gul Meter Chalu, says it is neither necessary nor possible for an actor to do issue-based films all the time. Yami was interacting with the media here on Wednesday at a promotional press conference of the film that releases on Friday. She was ...

Football »

Japanese MMA star Norifumi 'Kid' Yamamoto dies at 41

Tributes flowed Wednesday for charismatic Japanese Mixed Martial Artist ( MMA) Norifumi "Kid" Yamamoto, who died at age 41, three weeks after announcing a battle with cancer.Born to a family of wrestlers and martial artists, the wiry, tattoo-covered Yamamoto took on larger opponents in a wide range of MMA events, ...

Editorial »

Ecological danger for destroying forest by Rohingyas

A STUDY has revealed that 4,300 acres of hills and forests have been razed in Cox's Bazar to set up refugee camps and cooking fuel for Rohingyas who fled ethnic cleansing in Myanmar. Quoting the study, news media reported that about 3,000-4,000 acres of hill land at Teknaf and Ukhia ...

International »

Kim agrees to dismantle main nuke site if US takes steps too

AP,  Pyongyang :The leaders of North and South Korea announced a wide range of agreements Wednesday which they said were a major step toward peace on the Korean Peninsula. But the premier pledge on denuclearization contained a big condition, with North Korean leader Kim Jong Un stating he'd permanently dismantle ...

International »

Sex with Trump 'least impressive' she's ever had: Daniels

Stormy Daniels, the porn star who claims to have slept with Donald Trump over a decade ago, says in her upcoming tell-all book that it may have been the "least impressive sex" she'd ever had, The Guardian reported Tuesday.In her book, "Full Disclosure," Daniels also provides a graphic description of ...

Entertainment »

I`m seen as a fierce and opinionated woman post Bigg Boss: Hina Khan

Actor Hina Khan believes Bigg Boss helped her showcase her real personality, which is that of a woman who does not shy away from speaking her mind. The actor became one of the most talked about contestants on the 11th edition of the reality TV show, which has just begun ...

City »

Dhaka University teachers formed a human chain programme on the campus on Wednesday demanding release and proper treatment of BNP Chairperson Khaleda Zia.

Editorial »

We welcome Islamabad for awarding Bangladeshi-origin refugees Pakistan`s nationality

PAKISTAN government has decided to grant nationality to all Pakistan-born refugees of Bangladeshi and Afghan origins staying there for decades. Prime Minister Mr Imran Khan on Sunday made this announcement during his maiden visit to Karachi, saying the Bangladeshi and Afghan refugees who were born in Pakistan would get National ...

Sports »

Argentina's Facundo Conte (left) and teammate Alexis Gonzalez celebrate during the Men's World Championships' volleyball match between Argentina and Slovenia, in Florence, Italy on Monday.

Football »

FIFA president Infantino has doubts about La Liga match in Miami

AFP, Barcelona :FIFA president Gianni Infantino has expressed concern about La Liga's proposal to stage a fixture between Girona and Barcelona in the United States.The two clubs have each approved a request submitted to the Spanish Football Federation for the match to be played at the Hard Rock Stadium in ...

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news