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TIB: Reports about us praising Beximco confusing

  • Published at 08:24 pm September 24th, 2019
The logo of Transparency International Bangladesh (TIB) Collected

The organization urged Bangladesh Bank to remain resolute in its decision of denying Beximco's request for loan rescheduling

Transparency International Bangladesh (TIB) has termed the media reports about the organization praising Beximco Group for their contribution to the economy as confusing.

In a press release issued on Tuesday, TIB said it praised Beximco for their contribution, but it also criticized it over loan rescheduling.

In the statement, TIB's Executive Director Dr Iftekharuzzaman said: "In a letter to TIB, the chairman of Beximco put forward different contributions that it had made to Bangladesh’s economy. 

“In response to which, TIB praised it just like the way it would praise any other organization for making important economic contributions."

However, the director expressed disappointment regarding the way Beximco tried to avoid the main issue of loan rescheduling in their letter.

He said: "In addition to praising the conglomerate, the director hoped that Beximco would follow an ethical business model, which would set an example for other companies." 

At the same time, Dr Iftekharuzzaman urged Bangladesh Bank to not agree to Beximco's request for loan rescheduling and hoped that the central bank would fulfill its desired role.

The TIB chairman also assured that TIB's main goal is not to consider any individual or company's interests; rather, it wants to take a stand against corruption. 

"It was TIB's moral duty to criticize Bangladesh Bank's act of allowing a specific organization to apply loan rescheduling," the statement said.  "The organization wants the bank to take swift measures to rectify its actions."

The executive director also recommended that an autonomous commission be created to undertake and implement the plans of short, medium and long-term reforms.

What is the confusion about?

On September 16, TIB sent a letter to Beximco in response to the conglomerate’s protest against remarks on its Vice-Chairman Salman F Rahman and loan rescheduling. 

Chairman of Beximco, Sohail F Rahman, wrote to the corruption watchdog’s chairperson on September 15 to register their protest.

The letter referred to Dr Iftekharuzzaman’s comment in response to a report published in an English national daily on September 13. The newspaper reported that the conglomerate has been given another opportunity to reschedule loans.

According to media reports, in the letter sent to Beximco on September 16, TIB praised the company by saying it played an active and multilateral role in the domestic and international markets. 

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