United News of Bangladesh

BNP lawmaker Reza Kibria on Thursday criticized the relaxed definition of loan default saying that Bangladesh's banking system is in total shock due to the high volume of default loans. "We have changed the definition of default loan in the banking sector. Earlier, a loan was considered defaulted if interest remained unpaid for 90 days. Now, if no interest is paid for a year, then it is treated as a default loan," he said in Parliament. The MP, elected from Habiganj-1, made this remark, participating in the general discussion on the proposed national budget for the 2026-27 fiscal year in the House. Drawing on his international experience, Kibria said that in the 35 countries where he had worked, a default loan ratio above 6 percent was considered alarming. "But here, even under this false definition, the default rate stands at 61 percent. That means the banking system is in total shock," he said He said the banking sector’s efficiency remains low due to the large gap between deposit and lending rates. "We collect deposits from people at around 5 percent interest, but when an honest businessman seeks a loan, he is charged 14 to 16 percent. That is why our banking sector is not efficient," he said. According to Reza Kibria, in an efficient banking system the difference between deposit and lending rates should generally remain within 4 to 6 percentage points. "The most important issue is that honest businesspeople are not getting access to loans," he added. Reza Kibria, a noted economist, said he had spent 45 years working in the field, beginning his career at the International Monetary Fund (IMF) in 1984. He said the finance minister prepared the budget under extremely difficult circumstances as the global economy continues to slow down. The global economic outlook is weakening. Forecasts for world economic output have been revised downward every six months. Given the current global situation, this budget should not come as a surprise, he said. The BNP lawmaker stressed the importance of maintaining macroeconomic balance for safeguarding Bangladesh's economic future. Turning to debt management, he said Bangladesh's debt level remains manageable at around 40 percent of GDP, while debt servicing accounts for about 20 percent. He, however, cautioned against resorting to commercial foreign borrowing. Bangladesh always prefers loans from international sources due longer repayment periods and significantly lower interest rates, which often remains between 0.5 percent and 1 percent, he said. On inflation, Reza Kibria said it affects all aspects of the economy, including policymaking and economic growth, and stressed the importance of keeping inflation under control. Referring to income inequality, he said previous governments had failed to take meaningful measures to address disparities in income distribution. When poor and marginalised people receive additional income, they spend most or all of it, which has a positive impact on the economy. But if a wealthy person receives additional money, it may not be spent and therefore has a much smaller economic impact, he said. The BNP lawmaker argued that economic growth cannot be accelerated merely by constructing luxury apartments and shopping malls. "If investments are concentrated in building large 7,000-square-foot apartments and shopping malls, economic growth will not increase significantly," he said. Regarding the budget deficit, the noted economist said a deficit of around 4-5 percent of GDP is not excessive in itself, but expressed concern that the budget had been prepared based on several false statistics (unrealistic revenue projections). He noted that revenue collection over the past 15 years had never exceeded 80-84 percent of the target, and in a year, it had fallen to around 70 percent. "We prepare budgets based on high revenue targets, but those targets are not achieved. As a result, towards the end of the fiscal year, our (finance) minister has to seek financing from three sources – non-bank private sources, banks and foreign sources," he said. He said financing from foreign sources is the most dangerous option, while financing from domestic banks and non-bank sources could fuel inflation. Reza Kibria urged the government to focus on improving the quality of public expenditure through appropriate measures.

Reza Kibria, an economist and founder-convener of the political platform Gono Odhikar Parishad, has formally joined the Bangladesh Nationalist Party (BNP). He announced his joining on Monday (December 01) at the political office of BNP Chairperson Khaleda Zia in Gulshan. BNP Secretary General Mirza Fakhrul Islam Alamgir and the party’s Standing Committee member Salahuddin Ahmed were present at the joining ceremony. Read more: No plan to join politics, contest polls: Shafiqul Alam Sharing his feelings, Kibria said he left a 'lucrative job' at the International Monetary Fund (IMF) to serve the country through politics. “The way Tarique Rahman is leading the party, I felt that BNP is the best platform for anyone who truly wants to work for the nation.” “Whatever responsibility BNP assigns me in the future, I will give my best efforts,” he added. Welcoming him, Fakhrul said the country needs talented individuals in politics. “When knowledgeable and capable people come into politics, the nation becomes more prosperous.” Responding to a question on whether more people are set to join BNP, Fakhrul said, “There is now a rush to join BNP. Everyone understands that BNP is going to steer the country’s future.” He said the party is fully preparing for the upcoming February election, adding that the environment for a fair election currently exists in the country. On the health condition of Khaleda Zia, Fakhrul said, “Her condition remains the same. She is under close medical supervision following advice from local and foreign doctors.” He sought prayers from the nation for her recovery. Read more: Reza Kibria joins BNP; likely to contest polls from Habiganj-1

Dr Reza Kibria on Sunday threatened to take legal action against Nurul Haque Nur and two others for their ‘unlawful’ move to remove him from the post of convener of Gono Odhikar Parishad. Talking to reporters at his Gulshan residence, Dr Reza said Gono Odhikar Parishad will be run under his leadership. "He (Nur) has become so desperate to remove me that he took the decision without proper voting," he said. As per the party constitution, Dr Reza said two-thirds of votes (81 votes) of the central committee are needed to oust its convener or president. “It didn't happen." Besides, he claimed that Nur and his associates forged signatures of some committee members. “You will see the signatures of those who did not sign there. It is a serious matter. That's why we’ll file a case against Nurul Haque, Rashed Khan  and Shakil Uzzaman for forging signatures and taking votes through irregularities,” Reza  warned. He said only 36 central committee members put down their signatures during the voting for his removal. "The rest didn’t sign while 81 votes of the central committee are required to remove the convener. So, they could not remove me,” Reza said. He said he will continue to run the party as its convener. “The party is facing such a situation for only one person. I think we can overcome the problem as we have a lot of good people to save the party.” Earlier on Saturday, a group led by Nur, removed Reza Kibria from his post of the Gono Odhikar Parishad convener and replaced him with party joint convener Rashed Khan. A press release, signed by party office secretary Shakil Uzzaman said, the decision was taken as the two- third members of the central committee supported the proposal for Reza’s removal. Reza Kibria removed from Gono Odhikar Parishad Reza Kibria, however, was not present at the meeting. On October 26, 2021, Bangladesh Gono Odhikar Parishad was launched with  Reza Kibria as its convenor and former Ducsu Vice Present Nurul Haque Nur as member secretary with the motto of restoration of democracy, establishment of justice, rights of people, and saving the national interests.  

Nearly 20 months into its formation, Bangladesh Gono Odhikar Parishad is facing split as a group, led by Nurul Haque Nur, removed Reza Kibria from the position of convener of the party amid growing conflict in the party’s top leadership. The followers of former Ducsu Vice Present Nur, member secretary of the party, made Rashed Khan their acting convener, replacing Kibria. BNP happy over talks with Gono Odhikar Parishad Kibria retaliated by expelling Nur and Rashed from the party. Nur and his supporters held a meeting of the party central executive committee at its central office on Monday and unanimously nominated Rashed, a joint convenor, for the post of the party convenor levelling various allegations against Reza, said a press release issued by party office coordinator Shakil Uzzaman. It said the meeting discussed the evolving situation caused by various political activities of Reza Kibria and the current situation of the country alongside the organizational issues. Gono Odhikar Parishad's V-Day rally held Friday “Under the emerging situation, the meeting also unanimously nominated the number one joint convener Md Rashed Khan as the convener of the party to conduct its organizational activities in an orderly manner,” the press release said. A rift in the party's top leadership surfaced recently as both Reza and Nur gave posts on their Facebook accounts accusing each other of 'lack of transparency and lies' in financial and organizational matters. Contacted Reza, now in Cambodia, said the problem brewed in their party as he raised questions about party funding and Nur’s reported meeting with various intelligence agencies, including Mossad member Mendi N Safadi. He said the source of income of Nur and Rashed is not visible and he thinks they lead their life based on extortion. Besides, he said Nur arrogantly declared himself as the chief of the party’s Probashi Odhikar Parisahd and he visited different countries, including Qatar, to raise funds for the party. “But he did not disclose how much money he raised." Reza said they held an emergency meeting of the party on Sunday last in Gulshan where he sought an explanation from Nur about financial transparency and accountability and the reasons for communication with various anti-state intelligence agencies. “Later, an unexpected situation arose forcing him to adjourn the meeting. Following that meeting, he said, Nur and his supporters are trying to split the party. Reza said 75 percent of party leaders and workers, including the senior ones, are with him. He said they have already taken a decision to replace Nur and Rashed. “We’ll sit in a meeting again very soon and announce the name of a new member secretary of our party.” Nur, however, said the allegations brought against him are false and fabricated. He alleged that Reza brought the allegations to hide his own misdeeds, anti-party activities, and his connections with different intelligence agencies. On October 26, 2021, Bangladesh Gono Odhikar Parishad was launched with Reza Kibria as its convenor and former Ducsu Vice Present Nurul Haque Nur as member secretary with the motto of restoration of democracy, establishment of justice, rights of people, and saving the national interests.  

Bangladesh Gono Odhikar Parishad Convenor Dr Reza Kibria on Saturday said the government should allow BNP Chairperson Khaleda Zia to go abroad for treatment for the sake of the country’s image. “Khaleda Zia's treatment is a medical issue, not a political one. The government should take steps in this regard in consultation with her doctors. She should be given a scope for treatment abroad as an elderly woman, at least for the sake of the country’s image,” he said. Read: Ready to make any sacrifice for Khaleda: Fakhrul He made the remarks while talking to reporters after visiting Evercare Hospital in the capital where 76-year-old Khaleda was readmitted on November 13, six days after she had returned home from the hospital. Dr Reza Kibria along with some other leaders of Bangladesh Gono Odhikar Parishad, including its member secretary Nurul Haque Nur, went to the hospital around 11:30am. They could not meet Khaleda as she has been staying in Coronary Care Unit (CCU) of the hospital, but they talked to two doctors of the BNP chief and enquired them about her current condition. Reza said doctors told them that Khaleda Zia is in a critical condition and she needs better treatment at any advanced centre abroad. “What I’ve understood is that Khaleda Zia needs to go to the USA for the treatment of some critical ailments.” He hoped that the Prime Minister will soon take a positive decision in this regard. “If anything bad happens to a former Prime Minister for lack of treatment, it will dent the image of both the government and the country across the globe.” Dr Reza also said Khaleda’s condition turned critical mainly for two reasons. “She was not given proper and timely treatment at Bangabandhu Sheikh Mujib Medical University while some of her organs have been badly affected by post-Covid complications.”   Read:    Shato Nagorik requests govt to allow Khaleda to go abroad for treatment On behalf of the family, Khaleda's younger brother, Shamim Iskander, submitted an application to the Home Ministry on 11 November urging the government to allow her to go abroad for better treatment. However, Law, Justice and Parliamentary Affairs Minister Anisul Huq said the government will consider Khaleda Zia’s appeal if she makes a fresh petition after returning to jail.           

Convener of newly-formed Bangladesh Gono Odhikar Porishad Reza Kibria and its member secretary Nurul Haque Nur were on Wednesday attacked allegedly by Bangladesh Charta League (BCL) members while paying homage to Maulana Abdul Hamid Khan Bhasani at his grave in Tangail. Several members of the party, including Reza and Nur, were injured in the attack, said Shakiluzzaman, senior joint convener of  Bangladesh Gono Odhikar Porishad. BCL, however, said their members were attacked by Nur’s supporters when they tried to stop them from chanting slogans against Prime Minister Sheikh Hasina and her government. READ: Ex-Ducsu VP Nur, Reza Kibria float new political party Nur and his party members visited the grave on the occasion of the 45h anniversary of the death of Bhasani, popularly known as “Mojlum Jananeta” or leader of the oppressed. Shakiluzzaman claimed that more than 50 BCL leaders and activists, equipped with bricks and sticks, attacked them in presence of police.  They were from the BCL unit of Maulana Bhasani Science and Technology University (MBSTU), he said. Tangail's Additional Superintendent of Police (Sadar Circle) Sarwar Hossain confirmed the incident. READ: Chargesheet filed against 2 leaders of quota movement in DU student's rape case; Nur exempted  Police escorted the Gono Odhikar Porishad leaders and activists out from the scene. MBSTU BCL organizing secretary Nibir Pal said Reza and were chanting slogans against the government and the prime minister. They attacked us for protesting it leaving four members of BCL injured, he claimed.

Mostafa Mohsin Montu, leader of a faction of Gonoforum, on Saturday hinted that they will remove party president Dr Kamal Hossain if he does not join their national council scheduled to be held on December 26.

In the wake of an extended meeting by a faction of the party, Gonoforum President Dr Kamal Hossain has convened a meeting of its central convening committee (CCC) on October 17.

The proposed budget for the 2020-21 fiscal “represents an unimaginative response to an economic crisis that calls for boldness and creativity”, according to Dr Reza Kibria, general secretary of Gono Forum.