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CA for establishing Microcredit Bank

Claiming that microcredit is "real banking," Chief Adviser Professor Muhammad Yunus on Saturday emphasized the need to establish a Microcredit Bank to create more entrepreneurs by disbursing collateral-free small loans to young people."Microcredit has reached such a stage, we must now think differently — the establishment of a Microcredit Bank. This is currently an NGO; it must now graduate from being an NGO," he said while inaugurating the Microcredit Regulatory Authority (MRA) building in the city's Agargaon area.Speaking as the chief guest, Professor Yunus, widely regarded as the founder of microcredit, proposed framing a new and separate Microcredit Bank Act to pave the way for the establishment of the Microcredit Bank. Addressing the limitations of existing microcredit organizations, he pointed out that while they can currently accept savings from their members, they are not allowed to take deposits from the general public.

"The time has come to establish a Microcredit Bank," he said. "Once licensed, this bank must operate as a social business bank, not a conventional one."

Professor Yunus emphasized that the law must ensure that the owners of the Microcredit Bank cannot take profit from it.

"The loan recipients may benefit from the bank, but the investors must not take profit," he clarified.

Recalling the founding philosophy of Grameen Bank, the chief adviser said it was based on the belief that every human being is an entrepreneur.

He noted that young people will be able to access collateral-free loans from the Microcredit Bank to invest in businesses and become entrepreneurs. “If young people receive capital for their ventures, they will no longer need to seek jobs,” he said.

"As a government, it is our responsibility to establish institutions that support the youth," he added.

Reflecting on the journey of Grameen Bank, he said conventional banks provide credit with guarantees, while Grameen Bank lends to the poor based on trust.

He noted that public funds were once looted from many conventional banks, whereas Grameen Bank has maintained transparency in its operations.

"Microcredit is the real banking. So, people must turn to it," he said.

Professor Yunus commended the Microcredit Regulatory Authority for setting an example of transparency and for fulfilling its historic responsibilities.

Ishraque Hossain’s supporters blocked by police during long march

Supporters of BNP leader Ishraque Hossain were obstructed by police during a long march towards the Secretariat, demanding he be sworn in as the mayor of Dhaka South City Corporation (DSCC).Due to police barricades, they were unable to proceed further.The march began around 12pm on Saturday, in front of the DSCC Nagar Bhaban. As it advanced through Golap Shah Mazar, Zero Point, Paltan, and passed the National Press Club towards the Secretariat, police intervened and blocked the procession. In response, the marchers returned to Nagar Bhaban.Protesters chanted slogans such as “No more delays in swearing-in,” “We demand Ishraque Hossain be sworn in immediately,” and “Ishraque is the people’s mayor, there is no other.”They claimed that despite a court ruling and the Election Commission publishing the official gazette, Ishraque Hossain has not been allowed to take his oath.

They accused the authorities of betraying public trust by denying Ishraque, who was elected by popular vote, the responsibility of office. The protesters vowed to continue their movement until the oath is administered.

City corporation employees also joined the demonstration, locking all gates of Nagar Bhaban and effectively shutting down DSCC’s main office. As a result, no officials or service-seekers could enter the building.

The long march was announced a day earlier by Ishraque’s supporters, who began the day by staging protests and a sit-in in front of Nagar Bhaban for the third consecutive day. Later, they initiated the long march from the same location.

Over 100 workers fall ill after drinking water at Gazipur factory

More than one hundred workers from the International Classic Composite Limited garment factory in the Nawjor area of Gazipur city fell ill after drinking water supplied within the factory premises on Saturday morning.The factory authorities subsequently declared a day off for all workers.According to Shahin Khan, officer-in-charge of Bason police station under Gazipur Metropolitan Police, several workers began feeling nauseous and experiencing abdominal pain after consuming water from an internal supply line.He added: “They were promptly taken to hospitals for treatment. Shortly after, more workers reported similar symptoms. However, none of the cases are considered critical.The affected workers were admitted to multiple hospitals, including Gazipur Shaheed Taj Uddin Ahmad Medical College Hospital, Sirajul Haque General Hospital, and City Medical College and Hospital in Nawjor.

Workers reported that around 4,000 employees work in the six-storey factory. Many of them drank water from supplied taps shortly after entering the premises around 8am.

Within 30 minutes, workers began falling ill, and their colleagues rushed them to nearby hospitals.

The ill workers described symptoms including dizziness, nausea, and stomach pain. Their co-workers assisted in transporting them to medical facilities.

Dr Abdullah Al Morshed, on duty at the emergency department of Sirajul Haque General Hospital, said most of the patients exhibited symptoms such as dizziness, nausea, and abdominal discomfort.He confirmed that most had improved significantly after receiving treatment and none were in danger.Abdul Hamid, manager of City Medical College and Hospital in Nawjor, citing doctors, said they had treated between 60 to 70 patients so far.

He added: “Two of them were referred to Shaheed Taj Uddin Ahmad Medical College Hospital for advanced treatment. Most of the affected workers suffered from stomach-related issues and nausea.

Farroque: Call elections before facing public wrath

BNP Chairperson’s adviser Zainul Abdin Farroque has urged chief adviser of the interim government Dr Muhammad Yunus to hold elections before public outrage escalates.He made the remark as the chief guest at a discussion organised by the central committee of Jatiyatabadi Torun Dal at the National Press Club on Saturday, reports Bangla Tribune.The event demanded swift elections and the implementation of the 31-point outline declared by BNP’s acting chairman to restructure the state. Zainul Abdin Farroque said people of the country have high hopes and expectations from the chief adviser. “The people want elections. A roadmap for the polls must be declared within the next couple of days,” he said.

Addressing the chief adviser, he added: “We take pride in you—do not shatter that pride. Rivers do not change course without hitting rocks. So, hold elections before the wrath of the people descends upon you.”

The senior BNP leader also alleged that the government appears hesitant in holding elections. He called for elections to be held in the manner of Justice Shahabuddin Ahmed in 1991.

Faruk also raised questions about the corridor issue during his speech and sharply criticised Indian Prime Minister Narendra Modi.

The discussion was presided over by the Jatiyatabadi Torun Dal President Md Abu Bakar Siddique. Also present were BNP Joint Secretary General Abdus Salam Azad, Religious Affairs Secretary Md Rafiqul Islam Jamal, and the organisation’s General Secretary Aminul Islam.

Islamic Foundation teachers, staff suspend movement after receiving assurances

Officers, employees, caretakers, and teachers under the mosque-based Child and Mass Education Program, operated by the Islamic Foundation, have suspended their movement demanding five points, including overdue salaries and Eid bonuses, following assurances from the director general of the Islamic Foundation.The director general of the Islamic Foundation, Abdus Salam Khan, announced in front of the main gate of the Ministry of Planning in Agargaon that all the demands of the protesters would be met within 24 days on Saturday at 2pm, reports Generation Times. He said: “In addition to five months of overdue salaries and bonuses, it has been decided to increase their salary by Tk1,500 instead of Tk5,000. The remaining demands will also be implemented gradually.”

He also said that he would meet with project officials and teacher representatives on Saturday to take official steps regarding the matter, and after this announcement, the protesters welcomed it with slogans.

At that time, representatives of the protesters, including Shamshuddin, field supervisor of Lakshmipur district, and other leaders, declared the suspension of the movement.

However, they warned that if the decision was not implemented by May 24, they would take to the streets before Eid.

Earlier, at 8am on Saturday, the protesters staged a demonstration by sitting in front of the Ministry of Planning in Agargaon.

They demanded the urgent approval of the mosque-based Child and Mass Education Pogram project (phase 8) for the development of moral and religious values, as well as payment of salaries and allowances from January to May, along with four other demands.

They said that although all their demands had been approved, delays in implementation caused by the Ministry of Planning’s negligence were the reason for their protest.

Earlier, when the ministry verbally agreed to their demands at 12 noon, the protesters rejected the agreement, gave an ultimatum for a written declaration within two hours, and several thousand teachers and employees blocked the officials inside.