#Bangladesh #fascists #Banksters
"In the face of intense domestic civic protests, anti-corruption social movements, and massive pressure from international donor agencies, the Government of Bangladesh has finally been forced to back down. The Ministry of Finance and the central bank have taken a decision in principle to repeal a highly controversial legal provision that would have allowed former corrupt owners to regain control of distressed and bankrupt banks. This move is being hailed as a major moral victory for ordinary citizens and human rights defenders across the country.
Passed in haste on April 10, lawmakers had quietly inserted a contentious clause, Section 18(A), into the newly enacted Bank Resolution Act. The primary objective of this hidden provision was to provide a legal route for former bank owners- responsible for laundering and embezzling billions of public funds- to reclaim ownership of these institutions. While the decision to scrap this ‘black law’ has brought temporary relief to conscious citizens, public vigilance against the collusion between corporate interests and political power remains high.
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The clause was craftily worded to state that if original shareholders ‘promised’ to repay the state-backed bailout funds injected during the rescue process, they could petition to have their shares, assets, and ownership returned. As soon as this loophole came to light, Bangladeshi civil society and social organizations erupted in anger.
Civil rights forums, including Transparency International Bangladesh (TIB), issued stark warnings that implementing this clause amounted to rewarding criminals and turning the country’s banking sector into a permanent sanctuary for plunderers. Public outrage intensified over a fundamental question: Why should state funds be used to rehabilitate the very financial oligarchs whose greed has prevented ordinary citizens from withdrawing their own money from banks?"
https://www.pressenza.com/2026/06/peoples-resistance-triumphs-bangladesh-government-forced-to-scrap-controversial-law-rehabilitating-bank-plunderers/