Bangladeshi newspaper The Daily Star, which was one of the architects behind the much controversial military coup on January 11, 2007, has now started fresh attempts in maligning the image of Sajeeb Wazed Joy.
Sajeeb Ahmed Wazed, also kwon as Sajeeb Wazed Joy is an IT professional who was selected by World Economic Forum as one of the 250 Young Global Leaders of the World. He is the son of Sheikh Hasina Wazed, the current Prime Minister of Bangladesh and the grandson of Sheikh Mujibur Rahman, the founding father of Bangladesh.
Sajeeb Wazed was born in 1971 during the Bangladesh Liberation War to the eminent Bengali nuclear scientist Dr. M. A. Wazed Miah and Sheikh Hasina Wazed. His birth during the war and subsequent victory of the Bengalis earned him the nickname given by his maternal grandfather, Sheikh Mujibur Rahman, "Joy" which in Bengali means victory.
Wazed was schooled in India. His early days were spent at boarding in St. Joseph's College Nainital, India and later at Kodaikanal International School in Palani Hills, Tamil Nadu. He pursued a Bachelor of Science degree in computer science, physics and mathematics from Bangalore University. Wazed then pursued another bachelor of science degree in computer engineering at the University of Texas, Arlington in the United States. Subsequently, Wazed attended the Kennedy School of Government in Harvard University, where he completed a Masters in Public Administration.
Daily Star and its affiliate vernacular daily are engaged in encouraging various activities against the democratic institutions in Bangladesh. After the military coup and subsequent installation of a military controlled interim government, these newspapers played important role as the mouthpiece of the entire conspiracy. One of the top executives of The Daily Star was appointed as the Press Secretary to the Chief Executive of the military controlled regime and the offices of the newspapers were actually known as the alternative centers of conspiracy against democratic institutions in Bangladesh during that time.
It is also alleged that, editors and reporters of these newspapers provided various information, scoop and documents against the politicians, including Sheikh Hasina and Khaleda Zia, thus enabling some over-ambitious military officers in taking harassing actions against these esteemed leaders of the country. It may be mentioned here that, both Sheikh Hasina and Khaleda Zia were given slow poison inside the prison at the suggestions of the 'advisors' of the ambitious military officers. Now the same group of newspapers has joined hands with Dr. Muhammed Yunus in maligning the image of the current government in Bangladesh as well as important political figures affiliated with Bangladesh Awami League.
One of the editors of the dailies is alleged to be directly involved in patronizing Islamist militancy in Bangladesh.
In its news item titled 'Grameen Bank on Joy's letter', The Daily Star wrote on March 11, 2011: "Sajeeb Wajed Joy, son of Prime Minister Sheikh Hasina, has riddled Grameen Bank with allegations of tax evasion, fraud and illegal activities under its founder Muhammad Yunus, prompting the microlender to issue a firm rebuttal.
"In a statement yesterday, the "Bank for the Poor" disputed Joy's letter, published in a section of the press and said the "news contains a number of inaccurate facts and appears to be misconceived".
"Joy, who lives in the US, has written and signed an open letter full of rants against the Nobel-winning organisation. In the letter initially circulated by email, Joy has identified himself as an adviser to the prime minister.
"Last year Norwegian Television uncovered documents revealing massive financial improprieties at Grameen Bank under Muhammad Yunus. Approximately $100 million in donor funds to Grameen Bank were transferred out of Grameen Bank to a private corporation, Grameen Kalyan set up by Yunus," Joy said.
"The government of Norway raised this as a major concern and as a compromise $30 million was returned. The remaining approximately $70 million was never returned. All correspondence in this regard was from Yunus himself," he said.
"Just as international lobbying and media is being used in this recent incident, no doubt Yunus lobbied the Norwegian government as well. However, their explanation left millions of dollars unaccounted for."
"Joy said this became a major issue in Bangladesh and the government was forced to form an independent committee to investigate." Yunus personally gave a press statement [no questions were allowed] where he announced that he undertook these transfers to avoid taxes, which constitutes tax evasion."
"However, this makes no sense since Grameen was at the time a non-profit and paid no taxes. What is clear is that this transfer is completely illegal and constitutes a criminal offence of 'conversion' under Bangladesh law."
"Further investigation uncovered other fraud, improprieties and illegal activity at Grameen Bank under Yunus."
"Joy said, between 1998 and 2002 all microloan borrowers were forced to pay an additional amount labelled "forced savings" which they were supposed to be paid back." However, this money was never returned to the borrowers, who are among the poorest of society! This is fraud and theft."
He alleged that donor funds were used to invest in a variety of private-for-profit ventures, all without approval from either the donors or the government, which owns 25 percent of Grameen Bank.
"In several cases, the equity in these private ventures was held not by Grameen Bank, but by Yunus and his family members personally. This is completely illegal and constitutes embezzlement," Joy claimed.
"He said loans were made by Grameen Bank to some of these corporations, which is completely illegal since Grameen Bank is not a regular bank. "It is lending donor funds and is only allowed to loan to microcredit borrowers."
"Joy also claimed Grameen charges up to 30 percent interest rate on loans and up to an additional 10 percent in "forced savings" to the poorest sections of society." Their collection methods are draconian and collection officers who fail to collect payment have the uncollected amounts deducted from their pay."
"There are many documented cases which constitute abuse and the criminal offence of 'molestation' under Bangladesh law," Joy wrote in the letter.
"He claimed the government, not Yunus, founded Grameen Bank." Contrary to the popular perception, Yunus did not found Grameen Bank. The government of Bangladesh did. Initially the government owned 65 percent of Grameen Bank, which was whittled down over the years by Yunus. The government still owns 25 percent of Grameen Bank and retains the right to veto management appointees."
"Joy said there is little evidence that showed a link between microcredit and reduction of poor people." Despite the hype, there is no evidence that microcredit has in fact reduced the rolls of the poor in Bangladesh. Grameen Bank has been in the microcredit business for 30 years, yet Bangladesh remains one of the poorest countries in the world."
"Furthermore, the private sector investments made using Grameen Bank money have become quite profitable. Grameen Phone is by far the largest telecommunications operator in Bangladesh with a subscriber base of 28 million, annual revenue of over $1 billion and profits of several hundred million dollars per year. Grameen Bank owns 35 percent equity in Grameen Phone, so why do they have to charge such high interest rates to the poor?"
"Joy also said the government had tried to retain the respect of Yunus." Given his stature as a Nobel Prize winner, the government of Bangladesh requested that Yunus step down quietly from the post of managing director of Grameen Bank. He refused and has engaged in an international lobbying campaign accusing our government and in particular, Prime Minister Sheikh Hasina of engaging in political retribution."
"Nothing could be further from the truth. Yunus has no political stature in Bangladesh. During the brief military regime from 2007-08, under a state of emergency with all political activity banned and most political leaders behind bars, even with the help of the military he was unable to put together a political party and garner any public support. Politically he is a non-entity in Bangladesh and no threat to any political leader," Joy said."
The Daily Star wrongly alleged that, Sajeeb Wazed Joy claimed to be the advisor to the Prime Minister, while in his letter Joy identified himself to be the advisor to Sheikh Hasina [his mother]. This tricky twisting of information by The Daily Star evidently proves its heinous attitude towards the ruling party, politicians and democratic institutions in Bangladesh.
Meanwhile, after being ousted from Grameen Bank, Dr. Yunus has started frantic bids in tarnishing the image of the current government in Bangladesh through his contacts inside Barack Obama's administration as well as several senators and members of US Congress from the Democratic Party. A media cell set by Yunus is also providing information and facts in defense of him as well information against the current government to various international media outlets. Dr. Yunus is known as a PR expert, who also is trying to hire lobbyists as well as columnists to write favorable articles in his favor thus ultimately helping him from losing control over the Grameen Bank, which was in reality used by Yunus as his mere pocket organization.
It may be mentioned here that, Weekly Blitz [the newspaper edited by me] continued to publish articles, reports and editorials exposing illegal activities of Dr. Yunus since 2008. Subsequently, a number of international media, including Norwegian film maker Tom Heinemann made a documentary film on irregularities inside Grameen Bank.
http://www.weeklyblitz.net/1329/daily-star-takes-on-sajeeb-wazed-joy
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