Dr. Muhammad Yunus was the first Nobel laureate from
Bangladesh. He established Grameen Bank in 1976 and jointly earned the Nobel
Peace Prize in 2006. Since then, he has faced various controversies. He formed
a political party in 2006 and it is said that he has even been associated with
the One Eleven conspiracy. Currently, he is entangled in several legal issues
related to labor law violations and corruption. To protect himself from
allegations of corruption, now he has sought support from the international
community and individuals who respect his Nobel-winning work. The influential
international community is applying pressure on the government to postpone his
trial. But do the leaders of the world know the man behind the mask?
"The
Hidden Message Within Success"
Dr. Muhammad Yunus is a silent observer when it
comes to the nation's issues. He refrains himself from participating in the
country's crises or celebrations. His personal interests lie beyond the
borders. He once proclaimed the magic of eradicating poverty through small
loans, although that magic didn't happen however, he demonstrated magic in his
wealth and financial prosperity.
Now he is speaking to the world raising the voice of
'social business'. Whether the social business is introduced or not, his
finances have expanded. From being a teacher, he has become a billionaire. But,
this wealth has grown at the expense of the poor, deceiving the government, and
depriving the nation of its treasures.
Dr. Muhammad Yunus, despite his professional
background in economics, achieved the Nobel Prize for Peace. How the economist
won the Nobel Prize in Peace is also a matter of thought. As a Nobel laureate,
he earns crores of taka by speaking abroad. The journey from economist to Nobel
laureate and international speaker has raised questions about his contributions
to the country and its people.
His venture into microcredit and self-reliance began
with research in Jobra village. He advocated for empowering the poor, and
transforming their lives, and presented this idea to the Bangladeshi
government. Under his proposal, the Ershad government established Grameen Bank.
Dr. Yunus took on the role of a managing director there.
On September 4, 1983, the government issued an
ordinance, known as Ordinance No. 46, to initiate Grameen Bank with a modest
capital of three million taka. Most of this capital, which is 1 crore 80 lakh
taka, came from the government, and the rest 1 crore 20 lakh taka was in the
form of loans to borrowers. Dr. Yunus personally did not invest any money in
Grameen Bank. Nevertheless, he acquired everything through Grameen Bank.
In a remarkable display of acumen, Dr. Yunus gained
control over 28 affiliated organizations and amassed immense wealth using
Grameen Bank's funds. Through his extraordinary intelligence, he has taken the
nation's and the people's wealth into his own pockets and by embezzling money
from Grameen Bank and the government, he has now become the owner of thousands
of crores of taka.
Since the inception of Grameen Bank, it has been
providing grants and loans to the bank through donor groups. But, what does Dr.
Yunus gain if all the money from donors goes to the government and the people?
Hence, he created the Social Venture Capital Fund (SVCF) using the funds from
donors.
In 1992, on October 7th, a decision was made to
establish a separate entity called "Grameen Fund" with funds from
SVCF. A limited company named 'Grameen Fund' was formed in 1994. In this fund
49.10 crores of that fund was transferred. From the beginning, there was an
attempt to bring funds or money from abroad by showing Grameen Bank. Dr. Yunus
was the driving force behind these initiatives. Although Grameen Bank is a
government institution, Dr. Yunus made all the decisions as its managing
director. The board of directors was formed in such a way that someone did not
prefer to speak against Yunus. Dr. Yunus seized this opportunity.
In 1993, during the 34th board meeting of Grameen
Bank on December 19th, a decision was made to establish the "Social
Advancement Fund" (SAF) using funds from donors and loans.
However, donors raised concerns about diverting funds
from Grameen Bank in this manner, considering its financial irregularity. Dr.
Yunus cleverly handled this situation. He officially informed donors of this
decision through a formal letter, promising caution in future endeavors.
On April 25, 1996, during Grameen Bank's board
meeting, a proposal for the formation of "Grameen Kalyan" was
accepted. According to the proposal, a company named "Grameen Kalyan"
would be established under the "Company Act 1994" for the welfare of
Grameen Bank members and employees. The board meeting of Grameen Bank approved
this proposal. That 'Grameen Kalyan' was a branch of Grameen Bank and it was
more clearly proved in its capital formation process. 69 crore from Grameen
Bank's Social Advancement Fund (SAF) has been provided to Grameen Kalyan. Since
the Chairman of Grameen Kalyan will be the nominated representative of Grameen
Bank. As a designated representative of Grameen Bank. Yunus became the Chairman
of Grameen Kalyan. "Rural Welfare" became Dr. Yunus's ‘Swan that lays
golden eggs’.
Subsequently, through Grameen Kalyan, Dr. Yunus
established several organizations, including 1. Grameen Telecom 2. Grameen
Distribution 3. Grameen Education 4. Grameen Netware Ltd: 5. Grameen Business
Development 6. Grameen IT Park 7. Grameen Capital Management 8. Grameen
Solutions Ltd 9. Grameen Dannon Foods 10. Grameen Health Care Services Ltd 11.
Grameen Star Education 12. Grameen Fabrics and Fashion Ltd 13. Grameen Krishi
Foundation.
Furthermore, several other institutions were formed
through the established Grameen Fund. These are:- 1. Grameen Capital Management
Ltd. 2. Grameen Solutions Ltd. 3.
Grameen Initiative 4. Grameen IT Ltd. 5. Grameen Cybernet Ltd. 6. Grameen
Netware Ltd. 7. Grameen IT Park 8. Tulip Dairy & Products Ltd. 9. Global Kids
Digital Ltd. 10. Grameen Bytech Ltd. 11. Grameen Cybernet Ltd. 12. Grameen Star
Education Ltd. 13. Rafiq Auto Manufacturer Ltd. 14. Grameen Information Highway
Ltd. 15. Grameen Business Services Ltd. 16. Grameen Sammogri.
This network of organizations collectively became
known as "Grameen Kalyan" and played a significant role in Dr.
Yunus's vision for social advancement.
In an interesting development, the "Grameen
Kalyan" and "Grameen Fund" were established through the
financial support of the Grameen Bank and decisions were made by the board of
directors. Both entities are legally considered integral parts of the Grameen
Bank. However, as of 2021, despite having representatives from the Grameen Bank
on their management boards, there are no longer representatives from the
Grameen Bank in these two organizations, as per a decision by the Grameen
Bank's management council. Dr. Muhammad Yunus still holds the position of
Chairman in both Grameen Kalyan and Grameen Fund. The question arises, how does
he maintain this position? This situation adds an air of mystery to the Grameen
Bank's operations. Despite officially retiring from the position of Managing
Director of the Grameen Bank, it is clear that he still wields significant
influence over the bank. This secrecy in the Grameen Bank's leadership has led
to suspicions and concerns among both the state and the public. The
manipulation of national resources to create personal companies is a troubling
phenomenon, leading to a web of corruption intertwined with state finances.
Why
Grameen Telecom makes profit and all other institutions incur losses?
Out of the 28 institutions established through
'Grameen Kalyan' and 'Grameen Fund,' only Grameen Telecom, apart from all the
others, is profitable. Grameen Telecom owns 34.2 percent shares of the
country's largest mobile network, 'Grameen Phone.' In 2022, after paying taxes
and VAT, Grameen Phone has made a net profit of 3,190 crores and 16 lakh BDT.
In other words, Grameen Telecom earns more than one thousand crore Taka in net
profit from Grameen Phone every year.
Grameen Telecom has nothing to do
without keeping any percentage of
Grameen Phone. With this money, 28 bankrupt companies of Dr. Yunus are
maintained and portion of the profit from Grameen Telecom goes to Grameen
Kalyan. Through Grameen Kalyan
other organizations are sustained. All
of these organizations are loss making organizations. So the question is: why
do these institutions run for years with losses? If we take a closer look, we
will see that the institutions that have been formed through Grameen Kalyan by
diverting money from Grameen Bank and have Dr. Yunus as their chairman. The
managing director positions of these organizations are exclusively given to Dr.
Yunus's loyal and trusted followers. They receive vehicles, hefty salaries, and
work according to Dr. Yunus's directives. This is a kind of nepotism. The main
activity of these organizations' is to transfer the profits from Grameen
Telecom and enjoy income tax evasion.
Through these organizations, Dr. Yunus conducts
money laundering. The path to money laundering was created by transferring
funds through Grameen Telecom. Grameen Telecom also has violated Sections 28
and 29 of the 1994 company Act by diverting 42.6% of its earnings to Gramin
Kalyan, even though Grameen Kalyan is not a shareholder of Grameen Telecom.
According to the law, Grameen Telecom must enjoy its entire income as revenue,
and accordingly, it must pay corporate tax at the applicable corporate rate for
the relevant fiscal year. However, when their audited accounts are examined, it
is seen that they have provided Grameen Kalyan with nearly half of their
earnings only in the form of advance income tax (AIT) at a rate of 10-20%.
However, according to the law, the applicable corporate tax rate for them was
between 35% to 37.5%.
The difference between this corporate rate and the
dividend tax is tax evasion.
Because 'Grameen Kalyan' is not
entitled to the dividend income of Grameen Telecom as per existing law. If we
add up all the tax exemptions that Grameen Telecom has provided since its
inception, the amount stands at around one thousand crore taka. This tax
exemption calculation applies only to Grameen Telecom. Similar incidents of tax
exemptions have occurred extensively in the case of other companies and
institutions controlled by Dr. Yunus, as well as in the area of his personal
income tax, over the years. When you calculate the tax evasion for these other
institutions controlled by Dr. Yunus, the amount will be substantial.
During the 26 years of operation of Grameen Telecom,
about one thousand crores of tax was evaded. During this long time, Dr. Yunus
has been evading 15 to 25 percent of taxes every year. Every year from 1997 to
2005 Dr. Yunus evaded 25% tax in Grameen Telecom. The tax rate
during that time was 35%, and he paid only 10%. From 2006 to 2008, Dr. Yunus
evaded tax at 20% per annum, with a 35% tax rate, and he paid only 15%. Since
2009 until 2022, Dr. Yunus has been evading 15% tax annually. During this time,
the tax rate was 35%, and he paid only 20%.
It is noteworthy that Dr. Yunus has filed several
cases and writ petitions in the country's courts to avoid legal actions
regarding his tax evasion issues. The purpose of all these cases and writs is
to prevent Dr. Yunus from facing legal consequences related to tax evasion. In
each of these cases related to Dr. Yunus's taxes, the allegations of tax
evasion have been substantiated with evidence. Through investigations conducted
by relevant national and regulatory authorities related to Dr. Yunus's tax
evasion, it has been convincingly established that Dr. Yunus himself and the
organizations under his control are deeply involved in the crime of tax
evasion. Following the orders of the highest court, he recently paid over 12
crore taka as a donation.
Opaque personal
accounts, fraud and money laundering
Dr.
Muhammad Yunus has three bank accounts. These three bank accounts are as
follows: 1. Southeast Bank (Account Number - 0212100020061), 2. Standard
Chartered Bank (Account Number - 18121274701), and 3. Rupali Bank (Account
Number - 0489010008096). Among these three bank accounts, the account opened in
Southeast Bank in the year 2000 (Account Number - 0212100020061) has been
recognized as his primary personal bank account. In this account, from the year
2000 to 2023, a total of 1 billon 18 crore 27 lakh 76 thousand 368 BDT in
remittances has been received. The majority of this remittance, 47 crores 89
lakh 96 thousand 652 BDT, came during the time of the military-backed
government. During that time, Dr. Muhammad Yunus also made an attempt to form a
political party. Did foreign friends give money to Dr. Yunus for forming the
political party? Did Yunus want to use foreign money to establish a political
party?
Dr.
Muhammad Yunus's tax files reveal that after winning the Nobel Prize in 2006,
he mentioned receiving a total remittance of 97 crores 4 lakh 61 thousand 191
BDT in the 2005-06 tax year. However, during that time, he received 115 crores
98 lakh 96 thousand 24 BDT in his personal Southeast Bank account as
remittances. This means he concealed information about receiving 18 crores 94
lakh 34 thousand 835 BDT in remittances in his personal tax file. This is a
clear case of money laundering.
In
the debit analysis of the personal account of Dr. Muhammad Yunus, it has been
revealed that the undisclosed funds have been transferred to two other accounts
at Southeast Bank. In the South East Bank's 15th branch, under the name
"Travel International Ltd" (Account Number: 73300003339), he has
transferred 11 crores 14 lakh 31 thousand 767 BDT and in the 35th branch
(Account Number: 90303160910), he relocated 2 crores 52 lakh Taka. These fund
transfers are part of the money laundering process, where money is moved from
one bank to another.
With
the aim of evading taxes, Dr. Yunus concealed substantial remittances in his
personal Southeast Bank account over several tax years. In the fiscal year
2007-08, he received remittances amounting to 15 crores 11 lakh 31 thousand 47
BDT. But in his tax return, he declared only 9 crores 14 lakh 58 thousand 489
BDT, resulting in a discrepancy of 5 crores 96 lakh 72 thousand 559 BDT. In the
fiscal year 2008-09, he received remittances of 11 crores 83 lakh 14 thousand
410 BDT, but he declared only 10 crores 40 lakh 24 thousand 832 BDT. Here he
concealed information totaling 1 crore 42 lakh 89 thousand 578 BDT. In the
2009-10 tax year, he received total remittances of 20 crores 95 lakh 51
thousand 195 BDT. However, he has reported in his tax file as 18 crores 99 lakh
28 thousand 731 BDT, concealing 1 crore 96 lakh 22 thousand 465 BDT. In the
2010-11 tax year, he received remittances totaling 8 crores 18 lakh 65 thousand
204 BDT. Yet, in his tax file, he has reported 6 crores 60 lakh 44 thousand 9
hundred 92 BDT, concealing 1 crore 58 lakh 21 thousand 112 BDT. In the 2011-12
tax year, he received remittances totaling 5 crores 91 lakh 5 thousand 586 BDT.
But in his tax file, he has reported 4 crores 65 lakh 36 thousand 572 BDT,
concealing 1 crore 25 lakh 69 thousand 114 BDT. In the fiscal year 2012-13, Dr.
Yunus received remittances totaling 8 crores 37 lakh 2 thousand 77 BDT. But he
mentioned 6 crores 50 lakh 66 thousand 665 BDT in his tax file, concealing
information amounting to 1 crore 86 lakh 35 thousand 412 Taka. In the fiscal
year 2013-14, Dr. Yunus received remittances totaling 10 crores 55 lakh 42
thousand 336 BDT. However, he mentioned 7 crores 98 lakh 59 thousand 544 BDT in
his tax file, concealing information amounting to 2 crores 56 lakh 82 thousand
793 BDT. In the fiscal year 2014-15, Dr. Yunus received remittances totaling 7
crores 14 lakh 57 thousand 207 BDT. Yet, he mentioned 5 crores 16 lakh 61
thousand 598 BDT in his tax file, concealing information amounting to 1 crore
97 lakh 95 thousand 609 BDT.
Since
the year 2000, Dr. Muhammad Yunus has been concealing information from the
government regarding the remittances he receives from abroad every fiscal year.
Starting from the fiscal year 2005-06 and continuing until the fiscal year
2022-23, he has concealed information about remittances totaling 18 crores 94
lakh 34 thousand 835 BDT.
Interestingly,
during the fiscal year 2020-21, Dr. Yunus transferred almost all of the funds
from his personal account to establish the "Yunus Trust." He did this
on the basis that funds in the trust are Income tax free. However, for such
funds, a 15% tax is required to be paid, which he did not. It is due to this tax
evasion that a case has been filed against him. He lost in this case.
The
analysis of Dr. Muhammad Yunus's bank accounts reveals that he has received
millions of dollars in remittances from abroad at various times. Among all the
election seasons, the flow of this remittance into his personal account has
been the highest. However, the question arises: what is the purpose of Dr.
Muhammad Yunus receiving more money from abroad in specific election seasons?
Has he brought money for any particular political party?
Dr.
Muhammad Yunus established a trust for the purpose of giving tax evasion. The
sole activity of this trust is to bear all the expenses of Dr. Yunus and his
family using the trust's funds. This is also a kind of fraud. Despite
committing to engage in social service activities, this trust does not seem to
undertake any such initiatives. So, is this trust created solely for Dr. Yunus
and his family to lead a luxurious life by evading taxes? How can a Nobel
laureate engage in such exploitation of the state and its people? How can he
establish personal institutions one after another using the country's
resources? How can an internationally renowned individual employ various
strategies and manipulation to evade taxes? What answer will Dr. Muhammad Yunus
provide to these questions?
Behind
the mask, this person seems to be a dubious character with little respect for
the law. If Dr. Yunus believes he is innocent, he should come forward, face the
charges, and present his case in court. This would put an end to the
controversy. However, instead of doing so, he is spending a significant amount
of money on legal expenses for his defense. The question is – why Dr. Yunus, a
person of such caliber need to gather recognition from the international
community? Why this lobbying?
Comment
Major
changes are taking place in the top two posts of the government. Cabinet
Secretary Khandaker Anwarul Islam is retiring on December 15. Kabir bin Anwar,
the current senior secretary of the Ministry of Water Resources is going to
replace him. It is said that this officer of 1985 batch will now take charge of
Cabinet Secretary as Senior Assistant Officer.
On the
other hand, the Chief Secretary to the Prime Minister, Dr. Ahmed Kaykaus, will
already represent Bangladesh as the alternate executive director of the World
Bank in Washington. He was supposed to join in October. But it is confirmed
that he will go in December. And this vacancy is being filled by the senior
secretary of the Prime Minister's Office, Tofazzel Hossain Miah. It is said
that the government's policy-making body has taken the final decision on these
two issues. Official sources also confirmed to Bengali Insider that a
notification will be issued in this regard very soon.
Kabir Bin Anwar Tofazzel Hossain Miah
Comment
The government has decided to appoint KM Ali Azam, senior
secretary of the Ministry of Public Administration, as a member of the Bangladesh
Public Service Commission (BPSC) after postponing his retirement from
government service.
A notification of public administration in this regard was
announced on Tuesday.
The notification said, His Excellency the President by
virtue of Article 138(1) of the Constitution of the People's Republic of
Bangladesh, Mr. KM Ali Azam, Senior Secretary to the Government, has been
graciously appointed as a member of the Bangladesh Public Service Commission
(BPSC) in the public interest, subject to the suspension of his post-retirement
leave and related benefits.
He will remain as member of BPSC for the next 5 years.
Earlier, the Ministry of Public Administration announced his
retirement on Monday (October 31). It is said that senior secretary KM Ali Azam
has been sent to retirement from government service from November 2 as per
section 43(1)(a) of the Government Service Act, 2018.
Ali Azam joined government service in 1989 in 8th BCS
(Administration). He was also the Secretary of the Ministry of Industries,
Ministry of Labor and Employment and the Divisional Commissioner of Dhaka. On
May 16 last year, he assumed responsibility as the senior secretary of the
Ministry of Public Administration.
Comment
Md. Tofazzal Hossain Mia, the current Senior Secretary of
the Prime Minister, is going to be appointed as the Chief Secretary of the
Prime Minister. He will replace the current Chief Secretary Dr. Ahmed Kaykaus.
As a result, the post of Prime Minister's Secretary will be vacant. And the
current private secretary of the Prime Minister Mohammad Salah Uddin is coming
to this post. A source in the Ministry of Public Administration has confirmed
to Bangla Insider that the notification in this regard may be issued this week.
The current Chief Secretary to the Prime Minister, Dr. Ahmad
Kaykaus, will represent Bangladesh as the alternate executive director of the
World Bank. Tomorrow (October 18) the post of World Bank's alternate executive
director for Bangladesh is falling vacant. Former Cabinet Secretary Shafiul
Alam was in this post. Dr. Ahmed Kaykaus has been appointed to this post due to
the expiry of Shafiul Alam’s tenure.
It should be noted that Tofazzal Hossain Mia is a ninth
batch officer. On the other hand, Mohammad Salah Uddin is a 13th batch officer.
According to the responsible sources of the Ministry of Public Administration, if
Mohammad Salah Uddin finally becomes the secretary of the Prime Minister, then
the 13th batch of secretaries will start through this.
Comment
Additional IG (Crime and Operations) M Khurshid Hossain is
going to take charge as Director General (DG) of Rapid Action Battalion (RAB).
Multiple government sources have confirmed this to Bangla Insider.
This meritorious officer of 12th batch has a reputation in
the army and government. He has been performing his duties with great
efficiency and reputation. RAB DG Chowdhury Abdullah Al-Mamun will become the
new IG of Police, so the post of Director General of RAB will be vacant. As a
result, he is going to get the responsibility of Director General (DG) of RAB.
M Khurshid Hossain Director General of RAB
Comment
Rapid Action Battalion (RAB) Director General (DG) Chowdhury
Abdullah Al-Mamun is going to take charge as the 31st Inspector General (IG) of
Bangladesh Police. Multiple government sources have confirmed this news to
Bangla Insider.
Multiple sources have confirmed to Bangla Insider that a
notification in this regard will be issued today.
Chowdhury Abdullah Al-Mamun is the Director General of RAB. He
has a reputation in the force and the government as an honest police officer.
He has been awarded the Bangladesh Police Medal (BPM) and President Police
Medal (PPM) in recognition of his outstanding contribution and exceptional
service to the Bangladesh Police. Chowdhury Abdullah Al-Mamun was promoted to
grade-1 on October 18 last year. Chowdhury Abdullah Al-Mamun held important
responsibilities like DIG (Operations), DIG (Administration). As Range DIG,
Chowdhury Abdullah Al-Mamun had important duties in Mymensingh and Dhaka Range.
He was then promoted to Additional IGP (HRM). Before joining RAB as Director
General, he served successfully as CID chief.
It should be noted that the tenure of Inspector General of
Police (IGP) Dr. Benazir Ahmed will end on September 30. Chowdhury Abdullah
Al-Mamun's office term will end on January 11 next year.
Comment
Major changes are taking place in the top two posts of the government. Cabinet Secretary Khandaker Anwarul Islam is retiring on December 15. Kabir bin Anwar, the current senior secretary of the Ministry of Water Resources is going to replace him. It is said that this officer of 1985 batch will now take charge of Cabinet Secretary as Senior Assistant Officer.
The government has decided to appoint KM Ali Azam, senior secretary of the Ministry of Public Administration, as a member of the Bangladesh Public Service Commission (BPSC) after postponing his retirement from government service. A notification of public administration in this regard was announced on Tuesday.
Md. Tofazzal Hossain Mia, the current Senior Secretary of the Prime Minister, is going to be appointed as the Chief Secretary of the Prime Minister. He will replace the current Chief Secretary Dr. Ahmed Kaykaus. As a result, the post of Prime Minister's Secretary will be vacant. And the current private secretary of the Prime Minister Mohammad Salah Uddin is coming to this post.
Rapid Action Battalion (RAB) Director General (DG) Chowdhury Abdullah Al-Mamun is going to take charge as the 31st Inspector General (IG) of Bangladesh Police. Multiple government sources have confirmed this news to Bangla Insider. Multiple sources have confirmed to Bangla Insider that a notification in this regard will be issued today.