Jamaat role in economy adds to its Bangla clout
Source http://timesofindia.indiatimes.com/world/south-asia/Jamaat-role-in-economy-adds-to-its-Bangla-clout/articleshow/18998821.cms
DHAKA: Shahbag activists have so far overcome death threats and assassinations, but their biggest obstacle isn't a bunch of radical, machete-wielding terrorists. It's economy.
There are fears that the Shahbag mission's call to ban the Jamat-e-Islami and seize their property may destabilize Bangladesh financially. The Jamat and several radical Islamic groups are alleged to be the force behind Islami Bank Bangladesh Limited (IBBL), one of the major private financial institutions of the country with huge stakes in privatized health, insurance, education, pharmaceuticals, transport and real estate.
Shahbag activists showed TOI a bunch of newspaper clippings of the past days, reporting how thousands of people are queuing up in front of Islamic Bank to close their accounts and withdraw their investment.
The Awami League government is perhaps aware of the Jamat's financial clout. Though it has exhibited some degree of sympathy for the movement, it has indicated clearly that there are boundaries. With the Shahbag revolution spreading to villages, the campaigners have given the government an ultimatum to act on their demands by March 26 — the 43rd independence day of the nation. Political experts in Dhaka feel that the demands to ban Jamat and seize their property have pushed the Seikh Hasina government into a tricky position.
"The four-decade-long bonhomie with the state machinery has put fundamentalist groups on a strong financial base. Now they are so powerful that they can upset the national economy," said a veteran political reporter in Dhaka. Eminent writer and activist Shahriar Kabir, who has been fighting for long against war criminals and fundamentalists, has tried to investigate possible connections between IBBL and Jamat in his writings. Though IBBL denies any link with any political party, Kabir has written in his article "Jamat-e-Islami's link with Islamic militancy" that in January 2004, a high level delegation from Jamat's Pakistan chapter met the Jamat-Bangladesh leaders. One of the delegates, Munim Zafar Khan, later wrote about his experience in a magazine published by Jamat-Pakistan's student's wing. Zafar wrote that he met the top executive of IBBL with Jamat leaders in Dhaka and he described IBBL as the "financial wing of Jamat's Bangladesh chapter".
Kabir also quoted some newspaper reports, which said how extremist groups are using IBBL to extend financial support to other jihadi activists, including Rohingya Solidarity Organization, an Islamic extremist group in Myanmar. Abul Barakat, an eminent economist and former professor of Dhaka University, agrees with Kabir that religious fundamentalists are financially very strong. In his study, he claimed that they make the majority of the profit in the financial sector — some $49.2million — pipping the NGO sector, which makes a profit of $41.6 million.
Experts hinted that this huge share in the national economy is a shield for the fundamentalists. Banning Jamat and all its wings and seizing their property will upset the entire system, they fear.
Shahbag activists, however, are not bothered about the government's dilemma. "The government will have to realize that our demands are not from a platform, but a mass verdict (janata-r rai)," said S M Subho, one of the key organizers of the Shahbag upsurge. There are reports that rural Bangladesh has started responding to the 'ban-jamat' call.
DHAKA: Shahbag activists have so far overcome death threats and assassinations, but their biggest obstacle isn't a bunch of radical, machete-wielding terrorists. It's economy.
There are fears that the Shahbag mission's call to ban the Jamat-e-Islami and seize their property may destabilize Bangladesh financially. The Jamat and several radical Islamic groups are alleged to be the force behind Islami Bank Bangladesh Limited (IBBL), one of the major private financial institutions of the country with huge stakes in privatized health, insurance, education, pharmaceuticals, transport and real estate.
Shahbag activists showed TOI a bunch of newspaper clippings of the past days, reporting how thousands of people are queuing up in front of Islamic Bank to close their accounts and withdraw their investment.
The Awami League government is perhaps aware of the Jamat's financial clout. Though it has exhibited some degree of sympathy for the movement, it has indicated clearly that there are boundaries. With the Shahbag revolution spreading to villages, the campaigners have given the government an ultimatum to act on their demands by March 26 — the 43rd independence day of the nation. Political experts in Dhaka feel that the demands to ban Jamat and seize their property have pushed the Seikh Hasina government into a tricky position.
"The four-decade-long bonhomie with the state machinery has put fundamentalist groups on a strong financial base. Now they are so powerful that they can upset the national economy," said a veteran political reporter in Dhaka. Eminent writer and activist Shahriar Kabir, who has been fighting for long against war criminals and fundamentalists, has tried to investigate possible connections between IBBL and Jamat in his writings. Though IBBL denies any link with any political party, Kabir has written in his article "Jamat-e-Islami's link with Islamic militancy" that in January 2004, a high level delegation from Jamat's Pakistan chapter met the Jamat-Bangladesh leaders. One of the delegates, Munim Zafar Khan, later wrote about his experience in a magazine published by Jamat-Pakistan's student's wing. Zafar wrote that he met the top executive of IBBL with Jamat leaders in Dhaka and he described IBBL as the "financial wing of Jamat's Bangladesh chapter".
Kabir also quoted some newspaper reports, which said how extremist groups are using IBBL to extend financial support to other jihadi activists, including Rohingya Solidarity Organization, an Islamic extremist group in Myanmar. Abul Barakat, an eminent economist and former professor of Dhaka University, agrees with Kabir that religious fundamentalists are financially very strong. In his study, he claimed that they make the majority of the profit in the financial sector — some $49.2million — pipping the NGO sector, which makes a profit of $41.6 million.
Experts hinted that this huge share in the national economy is a shield for the fundamentalists. Banning Jamat and all its wings and seizing their property will upset the entire system, they fear.
Shahbag activists, however, are not bothered about the government's dilemma. "The government will have to realize that our demands are not from a platform, but a mass verdict (janata-r rai)," said S M Subho, one of the key organizers of the Shahbag upsurge. There are reports that rural Bangladesh has started responding to the 'ban-jamat' call.
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