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Showing posts from April, 2013

Remembering Bir Shreshtho Munshi Abdur Rouf

It was April 8, 1971. Liberation war was in full swing. Pakistan Army soldiers attacked position of Mukti Bahini in Rangamati and Mohalchari with seven speed-boats and two launches. Plan was to drive out Mukti Bahini from the area. They came closer to the position and started firing heavily. At one point Pakistani Army cornered nearly 150 Mukti Bahinis. Lance Nayek Munshi Abdur Rouf  realized that his entire company was in trouble. He crawled forward to a trench with the intention of firing at Pakistani Army. He managed to do so and continuously fired with the automatic machine gun at the trench. Pakistani Army was confused with the heavy firing and was forced to drag their launches back. Two of the speed-boats drowned. This gave time to the Mukti Bahini, rest of the members of the company, to move back. Pakistani soldiers eventually started firing mortar shells after repositioning. Munshi Abdur Rouf kept firing at them so that his fellow Mukti Bahinis can get time to move b...

History of Bangladesh's banking sector

The formally known ‘State Bank of Pakistan’ was renamed as ‘Bangladesh Bank’ right after Bangladesh’s independence. The Bangladesh Bank automatically became official foreign exchange reserve institute. It was too accountable for currency control, monitoring exchange and credit control. In the early 1970s, the government decided to permit foreign banks to continue their business and nationalize the local banks. In that very decade of 1970s, the primary concern of the government was to develop the country’s agricultural industry . This resulted in the Krishi Bank extending loans to more farmers. In the later decades, however, the county’s focus shifted to industrialization; resulting in various difficulties in the economic growth process. Lack of proper private activity guidelines and proper methods on loan giving were more significant of these problems. It was not until the late 1980s that these difficulties were being overcome and compensated for the agro sector. However the fin...