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Wednesday, November 11, 2015, Kartik 27, 1422 BS, Muharram 28, 1437 Hijri

6 co-op societies run illegal banking activities, JS told
Staff Correspondent
Published :Wednesday, 11 November, 2015,  Time : 12:00 AM  View Count : 13
At least six cooperative societies are conducting banking activities illegally being registered as cooperative society in the country.
Replying to a starred question from Jatiya Party MP Mohammad Abdul Munim Chowdhury (Habiganj-1), Local Government, Rural Development and Cooperatives Minister Khandker Mosharraf Hossain on Tuesday told Parliament, "There are six cooperative societies which are accused of carrying out illegal banking activities taking registration of cooperative society."  The six cooperatives are the Dhaka Mercantile Co-operative Society (Bank) Ltd, the Dhaka Urban Cooperative Bank Ltd, Adarsha Somobay Bank Ltd, Small Traders Cooperative (Bank) Society Ltd, Merchant Cooperative Bank Ltd and Aziz Cooperative Commerce and Finance Credit Society Ltd (former ACCF Bank Ltd), he said.
These cooperative societies were asked to inform the Registrar and Director General of Cooperative Department erasing the word 'Bank' from their names, Mosharraf said.  
As the societies did not take any step in this regard, the coordination meeting of Bangladesh Bank, held on May 27, 2015 decided that the societies are swindling using 'bank' in their names, he added. As per the decision of the meeting, the list of accused societies was sent to the Financial Intelligence Unit of the Bangladesh Bank to take stern action against them under the Money Laundering Prevention Act, the minister said.
In reply to another starred question from ruling Awami League MP Israfil Alam (Naogaon-6), the LGRD and Cooperative Minister said only two meetings of the Board of Directors of Bangladesh Academy for Rural Development (BARD) and four meetings of the Board of directors of Bangladesh Rural Development Board (BRDB) were held in the last seven years. But 21 meetings of Board of Directors of BARD and 42 meetings of Board of Directors of BRDB were supposed to be held in the time from 2008 to 2014, according to data placed by Mosharraf.
The meetings of the board of directors of BRDB and BARD were not held regularly due to unavoidable reasons. The meetings will be held as soon as possible, he said. Six meetings of the Board of Directors of BRDB and three meeting of BARD were supposed to be held every year, he added.
Meanwhile, Mosharraf Hossain also told Parliament that Elections to the country's Zila Parishad would be possible only after a decision over specific polls system can be taken.

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