[vinnomot] Quest for democracy in Myanmar

SAN-Feature Service

SOUTH ASIAN NEWS-FEATURE SERVICE

October 24,2007

 

Quest for democracy in Myanmar

 

Ripan Kumar Biswas

 

Warning against Burma's ruling generals by the G8, the world's eight most industrialized countries and sanctions announced against them by the United States have been undercut the effectiveness of warning or economic sanctions due to Support from China — and to a lesser extent other Asian nations investing in Myanmar, notably India, South Korea and Singapore.

 

SAN-Feature Service : Thirteen people have been killed so far as of September 28, 2007 including a Japanese photographer in a crackdown on mass anti-government protests against 45 years of military rule and growing economic hardship as the military junta clamped down and soldiers raided monasteries in the middle of the night, rounding up hundreds of the monks who had been leading protests--a ominous reminders of the crushing of a 1988 uprising (known as 8888 Uprising) in which more than 3,000 people were killed.

 

The government disconnected the Internet, adding to the country's isolation. However, the leading ISP, an offshoot of the ministry of technologies, tried to blame it on a technical problem with an underwater cable.

 

Military are hounding the foreign journalists still working on the ground while several publications, including those owned by the Eleven Media and Pyi Myanmar press groups, have closed after refusing to publish propaganda articles as the public would not be interested in buying their publications if they could not read about the demonstrations.

 

In a sudden overthrow of existing democratic rule in March 2, 1962, Burma entered into the military regime. Revolutionary Government, led by Ne Win, abolished all political parties by military decree of the Revolutionary Council after March 23, 1964 and formed Burma Socialist Programme Party (BSPP) which became the sole political party in Burma under Ne Win.

 

Following independence in January 4, 1948, there were uprisings in the army and amongst ethnic minority groups in Burma and even before independence, the country was riven with political division and Aung San (father of Aung San Suu Kye) was assassinated together with six of his cabinet members on July 19, 1947.

 

After 8888 Uprising, General Saw Maung formed State Law and Order Restoration Council (SLORC) and declared martial law after widespread protests in 1989. SLORC renamed Burma "Myanmar" in the English language and government held free elections in May, 1990 for the first time in almost 30 years in where "the National League for Democracy (NLD)," the party of Aung San Suu Kyi, won 392 out of a total 489 seats, but the election results were annulled by SLORC, which refused to step down to date.

 

The latest protests were led on August 19, 2007 by former student protesters and other activists in response to sharp and unannounced fuel price increases that raised the prices of goods and transport in a country that is already one of the poorest in Asia, but most of these leaders had been arrested or were in hiding when the monks began their own protests on Tuesday, September 18, 2007.

 

The monks, who are the highest moral authority in the Burmese culture, were apparently motivated by an attack on a small demonstration near a temple, during which security officers fired shots in the air and beat a number of monks. Since then the monks' protests have spread quickly and have become more overtly political in order to banish the common enemy evil regime from Burmese soil forever.

 

The link between the clergy and the leader of Myanmar 's pro-democracy movement, as well as calls by some monks for a wider protest, raised the stakes for the government, which has mostly kept its hands off the monks for fear of a public backlash.

 

There was no sign the government had any intention of backing down, and monks said the violence would not deter them from pressing on with what has become the most sustained anti-junta protest since a failed 1988 democracy uprising.

 

The corralling of monks was a serious blow, but they were besieged in their monasteries, penned in by locked gates and barbed wire surrounding the compounds in the two biggest cities, Yangon and Mandalay . Troops stood guard outside and blocked nearby roads to keep the clergymen isolated and took control of the streets on Friday, September 28, 2007.

 

Although monks have been spearheading the demonstrations and filling most of the ranks in protest marches, but they aren't likely to emerge in a leadership role and the protests have been failed to produce a visible challenge against the junta forces.

 

Monks and other protesters, however, tried to be under the leadership of the iconic democracy activist and Nobel Peace Prize winner, Aung San Suu Kyi, 62, who remains a martyr and rallying symbol for the 56 million people of Myanmar .

 

In 2002, the military government miscalculated her appeal and released her from house arrest and allowed her to tour the country, visiting party offices, but it drew increasingly large and enthusiastic crowds until a band of pro-government thugs attacked a convoy in which she was traveling, killing several people. Then government seized her again and placed under even stricter house arrest, cutting off her telephone and barring most visitors.

 

Warning against Burma's ruling generals by the G8, the world's eight most industrialized countries and sanctions announced against them by the United States have been undercut the effectiveness of warning or economic sanctions due to Support from China — and to a lesser extent other Asian nations investing in Myanmar, notably India, South Korea and Singapore.

 

"Every civilized nation has a responsibility to stand up for people suffering under a brutal military regime like the one that has ruled Burma for so long," said the US President George W. Bush and called on all countries with influence over Myanmar to tell the junta to stop using force.

 

Myanmar 's fellow members in the Association of Southeast Asian Nations (ASEAN) expressed "revulsion" over the crackdown and told the junta "to exercise utmost restraint and seek a political solution." Officials in neighboring Thailand said planes were on standby to evacuate ASEAN citizens in case the situation deteriorated. But ASEAN has been reluctant to push Burma towards political reform out of deference to its doctrine of non-interference.

 

An agreement was signed not only to promote and strengthen relations in various fields, including art, music, education, research, media and tourism but also to re-establish the relationship between Bangladesh and Myanmar during the visit of Prime Minister and Chairman of the State Peace and Development Council (SPDC) of Myanmar , General Than Shwe on 17 December 2002.

 

Although Myanmar and Bangladesh share a 256-kilometer (159-mile) border, but the relation between this two south Asian nations much more depend on 2.5 million Rohingya Muslims fled to Bangladesh from Myanmar 's northwestern Rakhine state to escape persecution by Myanmar 's military rulers. However, 230,000 have returned to Myanmar since 1993, when the U.N. High Commissioner for Refugees began a repatriation program, but 20,000 Rohingya refugees are still left in camps in Bangladesh .

 

AS because Myanmar has been under military rule for so long, few people today understand the role that civil society is meant to play in a democracy or that a healthy democracy requires broad-mindedness and a dispersion of power.

 

Whatever, world wants an end to human rights abuses and the installation of a democratically elected government in Myanmar, and the people of Burma, who desire what so many others around the world now take for granted: the chance to freely express their views and to be represented by leaders of their choosing.--SAN-Feature Service

 

 

Ripan Kumar Biswas is a freelance writer based in New York: Ripan.Biswas@ yahoo.com

 

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[vinnomot] Interview: “We would like to see the transition to a democratic government”:Thant Myiny-U

SAN-Feature Service

SOUTH ASIAN NEWS-FEATURE SERVICE

October 24,2007

 

Interview: "We would like to see the transition to a democratic government":Thant Myiny-U

 

We would like to see the transition to a democratic government. It is important to get the regional countries on board. The question is: what is the aim on which India, China and the U.S. will agree?

 

SAN-Feature Service :Thant Myint-U, 41, grandson of the former United Nations Secretary-General U. Thant, was in New Delhi this week, having recently completed The River of Lost Footsteps, an account of the rise and fall of Burma from a historian's perspective. He worked with the U.N. for a decade, and also teaches history at Cambridge University. He is a frequent visitor to Myanmar (Burma). An interview with Sandeep Dikshit.

 

Question : The movement for democracy has been suppressed, but the regime is making overtures to the pro-democracy elements. How do you see the future of Myanmar?

 

Thant Myint-U :  In some ways, the situation is grim. There has been a political stalemate for almost 20 years. There are few signs that the military regime is interested in any meaningful transition to democracy.

 

At the same time, one has to be aware that the country is changing fast. It is not the same as in the 1980s. The environment is very different. That is good and bad, and the situation is very unpredictable.

 

The regime's supporters say it has struck peace with the ethnic groups. This could not be achieved by the last democratic leader U. Nu, who was a close friend of Jawaharlal Nehru.

 

In some ways that has happened. But it has not really been a process to turn the ceasefire into sustained peace. Internally, there is no movement in that direction. It is still a country at civil war. True, the ceasefire is welcome, but we are still far from a settlement that will bring sustainable peace.

 

Q: India's perspective is closer to that of China and different from the West. How do you acknowledge India's sensitivities?

 

A: The situation for China and India is very different. On the Chinese side, there has been peace and tranquillity. China has also played a behind-the-scenes role in encouraging the ceasefire. It has nudged the insurgents and the government to negotiate.

 

On the Indian side, the situation is more complicated — there are insurgents on both sides.

 

Q: With these imperatives, does India have leverage over policies in Myanmar?

 

A: My guess is that outside influence may not be enough to move the regime forward on political reforms. But it can help move the regime on other issues such as economic reforms and humanitarian issues. On some of these issues it has enough leverage to make a positive impact.

 

Q: While Aung San Suu Kyi's party [the National League for Democracy] wants democracy established immediately, the military would not want to be stripped of power immediately, after having ruled for decades. What are your views?

 

A: The NLD is very clear about its aim. There can be some change in the human rights issue. Beyond that, the aim is unrealistic as far as institutional democracy is concerned. They should aim at some sort of meaningful transition process. It will take several years. The army should play a meaningful role in economic reforms, human rights and poverty alleviation — these are all interlinked. We can't move first to democracy. We have to address these three issues.

 

Q: While the U.S. has applied more sanctions, India believes they will not affect the regime. It will pass on their impact to the people. What do you think of the Indian position?

 

A: It is true. There is a fundamental difference between using sanctions as a pressure point and as a diplomatic process. The U.S. has been keeping sanctions for 20 years. What has been the diplomatic process to include all the relevant countries in the international community? Is the aim to democratise, or regime change? Till one is clear about the process, it is pointless to argue whether sanctions can be useful as a tactic. Sanctions as a longstanding policy are counterproductive.

 

Q: What is your aim?

 

A: We are very clear that we support the democracy movement. We would like to see the transition to a democratic government. It is important to get the regional countries on board. The question is: what is the aim on which India, China and the U.S. will agree? As long as these countries are pulling in different directions, international influence will be ineffective.

 

Q: Do you think there is a stalemate?

 

A: The army had promised to hold polls and transfer power. If one stands on a promise made 20 years ago, one has to argue against that. We have to look real — we have to move to a better political situation, where there is democracy, but also tackle the extreme poverty, end the conflict. The focus on the NLD and the government is something that will lead us to effective policies for change. But the big part of the missing picture is conflict. The economic picture is missing as well.

 

In the recent protests, people were desperate to escape poverty. There was also a political reason. The regime is slightly open on economic reforms. We have to look at it creatively.

 

Q: What do you mean by economic reforms? Does it mean flooding the market with Western consumer goods, or is it something different?

 

A: The government changed the policy in the early 1990s by being favourable to trading and investment. But a mix of poor economic management, huge spending on the armed forces and sanctions has developed a political economy that benefits only a few.

 

A big change in Burma's economic picture has been the discovery of oil and gas. Will the money be used for health and education, or on defence? This will determine where Burma will be 20 years from now.

 

India can encourage macro-economic reforms. That would not encourage political freedom but is equally important. The present focus on political reform and the lack of international consensus is moving the country in a worse direction.

 

Q: What will be your contribution?

 

A: People were looking at a historical perspective. My book [The River of Lost Footsteps] gives that. That is my contribution. It is very difficult to help from outside. Also, the regime distrusts civilians educated outside [the country]. --SAN-Feature Service

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RE: [ALOCHONA] CTG: Summary of anti corruption drive

what is their problem...with people who do not want to give any credit to CTG...for taking few, bold, neutral decisions??
why some bdeshis want to bring back corrupt, inefficient politicians ..back to power...
can we get CT scan of their  heads...of these people and see... what r the pathological findings???
 
when we will wake up and will work hard to get rid of corrupt politicians + officials.
 
May Allah bless us all.
 
dr. maqsud Omar
sydney

---

To: alochona@yahoogroups.com
From: aamkhao@hotmail.com
Date: Thu, 18 Oct 2007 14:28:41 -0400
Subject: RE: [ALOCHONA] CTG: Summary of anti corruption drive

Hello All,
 
I have been reading this forum for a while. It is interesting to read people's opinions. Some very well taken, some long time after the fact and some so asinine that I shudder to think of its author. I don't know which category my two cents fall into... However, here is my rant:
 
I am delighted to see Bangladesh recovering untold sums from what some have dubbed "white collar criminals". However, something that needs to be addressed by our country is the ocean that divides the pay of a government employee vs the pay in the private sector. There is not even a hint of parity. So why would any sane person go work for the Government? There are many noble answers to this, however, the ignoble is what is glaring. "I can make untold sums by taking bribes because it is easy. I can justify this because compared to the person I am taking the bribe from I am a hundred times worse off". How does a government, caretaker or corrupt, elected or selected address this?
 
I say we reduce the size of the government and increase pay many fold. University professors must be better paid. Universities should raise the price of room and board and unthinkably, even tuition. DU must be restored to its former glory. Police must be paid better and better equipped. I know I am telling you what you already know... the real question is how does one act? I for one don't know and am willing to listen to suggestions.
 
Sincerely from washington dc.
Ehsan

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[vinnomot] Bangladesh needs immediate revolution in Political, Social and Economical Development

All,

 

This might sound like old song but I like to remind all of us in Abroad and Bangladesh that Bangladesh will be in various crises years to come until there are changes in Political, Social and Economical development.  We have so much talented people in Bangladesh and Abroad but we failed to rip the benefits since we get emotionally involved in Bangladesh politics and then we think its my way or highway.

 

1) Political Changes in Bangladesh:

 

We may argue day and night and take either side or not, but the bottom line is that there are some changes in Bangladesh politics and I personally believe that CTG will not let any corrupt politician be in power with introducing institutional changes.  I also advocate that next elected politicians must be honest, visionary, educated and should have 5 years plan for Bangladesh to move forward. 

 

I have trust in expatriates who like to help Bangladesh,  please go back and be policy makers to change the outlaw policies which does not help to survive in the 21st century.  So the the whole mentality has to be changed in Bangladesh politics.  We will able to change the mentality once we introduce new blood in the system by electing new group of MPs in Bangladesh.  Change Bangladesh Organization is campaigning to introduce new blood in the system.  You can call these new blood an opportunist, ill advised, ill motivated or whatever,  this needs to be done for better Bangladesh.

 

2) Social Changes in Bangladesh:

 

Bangladesh is unfortunate being a country of huge population.  Their health care system is falling a part in compare to the size of the population and health care services are provided by the Govt.  Since poor are dying for the failure of Govt,  we personally do not note this dire situation and these news does not come to the media of lack of interest. Bangladesh needs better medicines which content at least 95% API and Bangladesh Govt should press hard to manufacture better medicines for local markets.

 

Change Bangladesh Organization is pressing Bangladesh Govt to adopt strict rules in manufacturing medicines for local markets and asking to revamp the Bangladesh Drug Administration. Cut the corruption in Bangladesh drug Administration for the sake of 150 million people.  You can find this proposal at www.changebangladesh.com

 

Change Bangladesh Organization is working hard to rehabilitation for the senior citizens in Bangladesh.  Change Bangladesh Organization is working on a pilot project of building Kalma Senior Citizen Center in Munshigonj.  Change Bangladesh Organization is encouraging to build one senior citizen center in every village in Bangladesh and this will be only possible if we help each other and take notice of others good work.  We should not shut them by just saying scam, opportunist or ill advised, or whatever.  Unless you have better proposal to solve the problem.  Change Bangladesh always welcomes other constructive opinions.

 

Change Bangladesh Organization has encourage various organizations in Abroad and Bangladesh to raise money for the flood victims including itself.  We need to help those displaced and disadvantage people as much as possible.

 

3) Economical Development in Bangladesh:

 

Change Bangladesh Organization has advised with various proposals to expand the Bangladesh export economy and this proposal can be found at www.changebangladesh.com.  Again if you have any better proposal, please share with us see how we can help to implement.

 

Buying power of people has to be increased in Bangladesh to keep them live since we like it or not price of everything has been increased and continue will be increased worldwide.  Change Bangladesh Organization advised Bangladesh Govt to expand its pharmaceuticals export markets since an opportunity until 2016 as a LDC country.  Again if you have better proposal share with us and just do not shut people in the name of organization or anything.

 

Well I think I have described the activities of Change Bangladesh Organization and we want you to be part of it for sole Bangladesh and its future of 150 million people.  FYI - I have no personal interest by doing this activites and I have no immediate plan to run for MP election.  This is purely for the love of Bangladesh and its people.

 

All the above three processes has to be countined even we fail one of them.  We just can not sit and wait until all political situation become calm.

 

I will urge you to curb your waste full political emails, argument after argument which eventually help to reduce our critical thinking process.  Please be moderate and use your free speech with respect of others.

 

Love your country more than any particular person or parties.

 

God help Bangladesh to prosper.

 

Best wishes,

 

M. M. Chowdhury (Mithu)

www.changebangladesh.org

 

 

 

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[vinnomot] Humanism and Spirituality: (Basic 1): Celebrating Important Stages of Life

 

Developing Human Potential Without Religion

 

Basic Module: Celebrating the Important Stages of Life without Religion, and Thinking About Life and Death Issues
Birth
Most human beings enjoy the celebrations that mark special occasions in the pathway of life. Such celebrations may be individual like birthdays and coming-of-age, they may be occasions for communal life-cycle events like birth or marriage, or they may be communal festivals that -- however religious or non-religious a person is – these celebrations provide a time of release from the usual routines of life. Ceremony and festival have not always been associated with religion, though there are many in today's world who continue to enjoy religious ceremonies in a religious or in a  purely secular way. Christmas or Basant is a good example: indeed, festivals are so much a part of life that often those of one faith will participate in the festivities of another, and Christmas/Eid/Diwali/Besakhi cards can arrive from Buddhist and Hindu friends as much as from friends with no religious belief whatsoever. The doubtful religious origins of a civic festival or ceremony do not necessarily preclude humanist participation in either; it is just that the emphasis is different and religious connotations are lost. This is not sometimes hard to do since many religious festivals had their origins in pre-religious, pagan life activity. Another important reason for communal gathering occurs at the end of a life, when we mark the time when an individual dies. What we shall concentrate on in the first three discussions of this Basic Module are the important celebrations in our lives. In the following two lessons we shall then look a little more closely at two of these -- birth, and the issue of abortion, and death, and the issue of euthanasia. Like all people, humanists find it necessary and need-fulfilling to mark the important occasions of life, as well as its end, in a meaningful way. There are times when we want to share our joy or our sadness with others -- times when we want family and friends around us in our happiness or in our sorrow. There are also times when we want to make some public statement about our stage in life. These are the emotional occasions of life, and often the most meaningful and "spiritual" occasions. The exciting aspect of celebrating such occasions in the humanist way is that they can be made more meaningful because they can be individualized in a way that religious ceremonies cannot. Thus, it is possible to choose poetry and music to suit the occasion and, more importantly, to say the kinds of things that one would want to say -- to infuse the occasion with one's own emotive expression. Leading humanist associations now provide assistance for those preferring non-religious ceremonies.
Part 1: Birth
Although it is likely that pre-religious cultures developed celebrations for childbirth, birth rites today are sexular as well as religious. In religious sense, despite birth being a joyous occasion, there were accompanying fears of dark and evil forces that were lurking to harm the baby. In Eastern countries where Romanized Hinduism and Buddhism are practised, the mother is still regarded as "unclean" at childbirth, just as she is during menstruation. Such is the fear of evil forces in religions, for example, that there are more life-cycle rites for a pre-natal and post-natal baby than there are for the remainder of an individual's life! In Roman religion called Christianity, too, the baby was never really "safe" until it was baptised (until the devil in priest accepts the baby as one of thjem), and an important part of the ritual of christening a baby to the present day is the renunciation of the devil. Needless to say, such life-cycle rites are so important that they are accompanied by very precise ritualistic language. And whether or not the beliefs surrounding such ritual are maintained to the present day, the rites are accepted by many in their antiquated, ceremonial form, which has little relevance to the modern human being (9except that the baby may become safe from the devils of that particular religion). There is nothing fearful or unclean about birth to a humanist. The birth of a baby is a time for joyous celebration, for a new human being has been brought into the world with all the potential for fulfilment in a unique individual life. Each human being is part of the evolutionary unfolding of nature, a wonder to behold in his or her self. To those humanists who choose to celebrate the occasion with a ceremony, there are more meaningful words that can be used than those of religious traditions for the newly born. Planning a ceremony for the welcoming of a baby in order to give it a unique identity can be something personally done by the parents, family, or friends, or it can be arranged and conducted by a humanist celebrant. All sorts of personal contributions and ideas can inform such a ceremony. It is likely to be a naming ceremony, and naming will be the special part of the ceremony that denotes the individuality and uniqueness of the new-born baby. Parents often have special reasons for giving the particular name or names that they choose, even if it is just because they like the sound of a name. Explaining their choices of names can be part of the ceremony. In planning such a ceremony, parents can include poetry, or songs and music appropriate to the happy occasion. Interpretation of poetry is rather like interpretation of a painting; we see what has meaning for ourselves, and what can be particularly expressive of our emotions at the time. In Christian christening, godparents play a specific role in the ceremony, promising to encourage the child in the Christian faith. But at a non-religious naming ceremony there may well be one or two adults who are prepared to take on a particular role in the personal development of the child -- individuals who would like to offer support and encouragement through the years to adulthood. Such people are sometimes called supporting adults by humanists: they support both the parents and the child during the latter's evolving years, acting in various roles of advisor, a "refuge", or providing "respite care" outside the immediate context of the home. Raising children in the complex contemporary world is not easy. And because each child is different, and develops a unique personality, parents so often find that the aspirations they have for their children on the one hand may never be fulfilled, and on the other may far outstrip expectations. Parents often have to learn to accept a unique personality in a child who may be so different from them. This is not easy, and the intricate balances of self-identity and self-respect, and yet respect for others and the ability to allow freedom to others, are important values for each member of a family, and thoroughly humanist ones. Importantly, humanist parents never make vows to a deity, declaring that they will bring up their children in a certain way. Rejecting the so-called religion, they say what they aspire to do, what they hope to do and to achieve, but they would not wish to be categorical or restrictive about such hopes. For one of those hopes would be that the child would develop his or her own beliefs and values. Their approach to parenting is rational and not ignoranr, dogmatic or categorical. Thus, some brief poetry or prose to end a naming ceremony -- especially if it is in the form of words of wisdom for the future life of the baby -- provides an obvious conclusion to a very humanist ceremony.

 

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[ALOCHONA] Gen. Moeen: SEC tightens loan rules today, incidental or correlated?

Subject: Gen. Moeen: SEC tightens loan rules today, incidental or correlated?

 

Very interesting development though it must be coincidental but worth to take a look at new Securities and Exchange Commission rule Tuesday, October 21^st 2007 imposed a bar on merchant banks from granting loans with more than 1:1 ratio to clients, in a bid to rein in excess liquidity in the markets.

 

The new margin rule set by SEC will bar merchant banks from extending credit to their own directors, executives, sponsor-shareholders and to the nearest relatives of employees.

 

I doubt it has anything to do with General Moeen U. Ahmed's controversial Trust Bank home loan of 1 crore BD Taka but came in a time when this has become not just the Talk of The Town but Talk of the Bangladesh community around the Globe.

 

Please read the news from bdnews24.com

Thanks

Shamim Chowdhury
Date October 23^rd 2007

 

SEC tightens loan rules to curb liquidity Tue, Oct 23rd, 2007 7:02 pm BdST

Dhaka, Oct 23 (bdnews24.com) - The Securities and Exchange Commission Tuesday imposed a bar on merchant banks from granting loans with more than 1:1 ratio to clients, in a bid to rein in excess liquidity in the markets. Merchant banks must comply with the directive from October 24, the SEC said. "This measure is likely to restrain credit inflows from merchant banks. But we have yet to see what kind of impact it will have on the market and overall liquidity situation," SEC chairman Faruq Ahmad Siddiqi told bdnews24.com. The regulator's move followed a steady surge in stock prices and daily turnover value caused by a huge amount of funds coming in from a number of sources ranging from banks to retail brokers. Most investors were betting on a limited number of quality issues amid a dearth of supply in blue chips. The SEC said merchant banks that wanted to sanction credit based on a single security (such as a share) would have to lend according to the following formula: closing price+net asset value/2. If a client wanted to borrow money based on his deposits with the merchant bank, the ratio would be 1:1, or in other words, a borrower could borrow Tk 100 against a deposit of Tk 100, the SEC executive director Farhad Ahmad explained. The new margin rule will bar merchant banks from extending credit to their own directors, executives, sponsor-shareholders and to the nearest relatives of employees. The regulator said the new law would help check manipulation in the market and give merchant banks a uniform basis for lending. "It will help merchant banks sanction credit under the same rule. We hope the rule will bring discipline in margin loan disbursements by ensuring a level playing field for all," Farhad Ahmed said. The SEC executive said the rule advised merchant banks to consider a company's fundamentals when extending loans. The SEC approved the rule in September after it detected huge irregularities with AB Bank's lending. The bank, one of the country's largest merchant banks, had extended credit beyond rational limits to relatives of employees and to some of its clients. Stock market operators previously alleged that some merchant banks, in the absence of a set margin criteria, sanctioned loans to their clients irrationally, which in turn resulted in a surge in the prices of stocks and liquidity in the market. Arif Khan, general manager of IDLC Finance, called the ratio set by the SEC 'prudent' considering the current market situation. "It is very reasonable. I think it will help normalise the market," he said. bdnews24.com/sp/ai/ad/1856 hours

 

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RE: [ALOCHONA] General Moeen Violating Constitution and Govt. Service Rules

General Moeen is right.We are living abroad and talking about politics is not really ok if we do not particiate like any other bangladeshi does it in bangladesh............... we talk but we are out of the country & not sharing the odds & even of the causes of politics.I have many friends they do it but it is silly........... Loving your mother land from abroad really do not help it.... some time we talk but we do not act.Think this way.

 

---

To: alochona@yahoogroups.com
From: shossain456@yahoo.com
Date: Mon, 22 Oct 2007 09:57:41 -0700
Subject: [ALOCHONA] General Moeen Violating Constitution and Govt. Service Rules

General Moeen is like any other government servant (only difference he has a gun but the others don't have). He cannot talk about politics. His position in the Warrant of Precedence is number 9, below the Defence Secretary. Can Defence Secretary talk about politics? Absolutely not. General Moeen has only one responsibility to defend our border. Period. Yesterday Indian BSF killed two innocent Bangladeshi citizens in the border. What is he doing about that?

 

Unfortunately he is advising other Bangladeshis living in abroad not to involve in politics, but Gen. Moeen is talking loudly about politics while he is strictly prohibited by the Govt. Service Rule not to do so. This is nothing but so called 'Jago Bangladesh!".

I feel really sorry when I see fellow members of this Group are praising his speech. Please do not do it. He could turn out to be Monster. Look at Pakistan.

 

"junaid.sultan" <junaid.sultan@yahoo.com> wrote:

I like the way General Moeen U Ahmed is speaking to public and to
media during his recent visit to UK and USA. He is still a
Government servant but he is talking openly about Government
policies more than any other member of CTG including the CA. He is
desperately trying his best to defend himself against the corruption
he committed. I wonder why he is so sensitive to defend himself
against charges which were never placed. He is terming Sheikh Mujib
as father of nation and in the same breath equating Zia urRahman
with Mujib. I am bit curious to know if he thinks Sheikh Mujib is
the father of nation, why not declare it. Mind it; he has been
talking about Government policies for long.

He started saying that he does not have the ambition to be the
president of the republic but denies saying it the following day. He
says that democracy cannot work without honest people. I want to
know from him, if autocracy can work without honest people. There is
no compromise on honesty. On that lame accuse, election cannot be
delayed.

I like the general though I want to know if he is that honest why he
promoted himself to the rank of General from Lt. General immediately
after this Government came to power. Was not that misuse of power?
I also want to know on what account he is touring UK and USA at
present. Is not he visiting his son and brother in Florida?

Those who live in glass-houses don't throw stones on others.

Regards

Junaid

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[vinnomot] Gen. Moeen: SEC tightens loan rules today, coincidental or correlated?

Subject: Gen. Moeen: SEC tightens loan rules today, coincidental or correlated?

 

Very interesting development though it must be coincidental but worth to take a look at new Securities and Exchange Commission rule Tuesday, October 21^st 2007 imposed a bar on merchant banks from granting loans with more than 1:1 ratio to clients, in a bid to rein in excess liquidity in the markets.

 

The new margin rule set by SEC will bar merchant banks from extending credit to their own directors, executives, sponsor-shareholders and to the nearest relatives of employees.

 

I doubt it has anything to do with General Moeen U. Ahmed's controversial Trust Bank home loan of 1 crore BD Taka but came in a time when this has become not just the Talk of The Town but Talk of the Bangladesh community around the Globe.

 

Please read the news from bdnews24.com

Thanks

Shamim Chowdhury

 

SEC tightens loan rules to curb liquidity Tue, Oct 23rd, 2007 7:02 pm BdST

Dhaka, Oct 23 (bdnews24.com) - The Securities and Exchange Commission Tuesday imposed a bar on merchant banks from granting loans with more than 1:1 ratio to clients, in a bid to rein in excess liquidity in the markets. Merchant banks must comply with the directive from October 24, the SEC said. "This measure is likely to restrain credit inflows from merchant banks. But we have yet to see what kind of impact it will have on the market and overall liquidity situation," SEC chairman Faruq Ahmad Siddiqi told bdnews24.com. The regulator's move followed a steady surge in stock prices and daily turnover value caused by a huge amount of funds coming in from a number of sources ranging from banks to retail brokers. Most investors were betting on a limited number of quality issues amid a dearth of supply in blue chips. The SEC said merchant banks that wanted to sanction credit based on a single security (such as a share) would have to lend according to the following formula: closing price+net asset value/2. If a client wanted to borrow money based on his deposits with the merchant bank, the ratio would be 1:1, or in other words, a borrower could borrow Tk 100 against a deposit of Tk 100, the SEC executive director Farhad Ahmad explained. The new margin rule will bar merchant banks from extending credit to their own directors, executives, sponsor-shareholders and to the nearest relatives of employees. The regulator said the new law would help check manipulation in the market and give merchant banks a uniform basis for lending. "It will help merchant banks sanction credit under the same rule. We hope the rule will bring discipline in margin loan disbursements by ensuring a level playing field for all," Farhad Ahmed said. The SEC executive said the rule advised merchant banks to consider a company's fundamentals when extending loans. The SEC approved the rule in September after it detected huge irregularities with AB Bank's lending. The bank, one of the country's largest merchant banks, had extended credit beyond rational limits to relatives of employees and to some of its clients. Stock market operators previously alleged that some merchant banks, in the absence of a set margin criteria, sanctioned loans to their clients irrationally, which in turn resulted in a surge in the prices of stocks and liquidity in the market. Arif Khan, general manager of IDLC Finance, called the ratio set by the SEC 'prudent' considering the current market situation. "It is very reasonable. I think it will help normalise the market," he said. bdnews24.com/sp/ai/ad/1856 hours

 

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