Those who don't repay bank loans became wealthy in Bangladesh: Adviser Fouzul
"In Bangladesh, it’s not just businessmen who have become wealthy, but bureaucrats have too," said Apex Footwear Managing Director Syed Nasim Manzur.
Energy adviser Muhammad Fouzul Kabir Khan has said those who have become wealthy in Bangladesh are often the ones who take bank loans but do not repay them.
"Our private sector has developed through 'crony capitalism' meaning you grow if you have links with the government. Who are those who became rich in our country? Those who don't repay bank loans. Who are considered wealthy? Those who don't pay gas bills or electricity bills," he said today (4 December) while speaking as chief guest at an event organised by Bangladesh Investment Development Authority (Bida) at their office in the capital.
Fouzul Kabir Khan said he does not solely blame the private sector for "crony capitalism," noting that the system itself had long been structured that way. "Businesspeople [should] build wealth through production and innovation. We will open up many opportunities for the private sector," he added.
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During the event, Apex Footwear Managing Director Syed Nasim Manzur said, "In Bangladesh, it's not just businessmen who have become wealthy, but bureaucrats have too. This is never talked about. Money laundering has been done more by bureaucrats. Businesspeople do not want to take the blame for that."
Addressing Bangladesh Bank Governor Ahsan H Mansur, who was present at the meeting, Nasim Manzur said, "Catch the businesspeople who steal money, gas, electricity. We don't want to take responsibility for them."
The event was chaired by Ashik Mahmud Bin Harun, executive chairman of both Bida and Bangladesh Economic Zones Authority (Beza).
