The history of going abroad from Bangladesh for work only has been about 40 years. Without reviewing the history of these 40 years, if we review the history of the money earned by those people in the country, we can see that the amount of money earned or sent by them is huge and has played an important role in the economic development of our country. Apart from this, there has been a huge change in their standard of living, economic status and social status. It is not just isolated cases that have occurred in some individuals but also in some areas or districts across the country. Such as: Cumilla, Noakhali, Feni, Madaripur, Shariatpur etc.
But this development, their contribution in this case has always been hidden or going. This is because they are spending the lion's share of their earnings on improving living standards, buying land, building houses, luxuries and the rest of the money they are lazily leaving in the bank to make a profit every month. And, it is becoming visible that a class of people in the area is playing a direct role in the development of the area in exchange for their money. Because, that one class of people is the people of the civil society of the area, its people's representatives, they are businessmen. Apparently, they may have had a business before, now - the land business, the construction business, the trading business, the real estate business, the car business, the restaurant business - all kinds of business they control. Because, people returning from abroad are buying all kinds of goods or receiving services from them with money. And like the middlemen, they are making more profit and owning more and more money day by day. In many countries like Hong Kong, Singapore, Malaysia and Thailand, when we go for a walk, we buy things at high prices and think of ourselves as capable or lucky. But at the end of the day, those are the countries that are improving, the same class of people.
If we review more closely, we will see that even though they have been earning a lot of money from abroad for a long time, they are stuck in a certain circle, their next generation is also stuck. They are buying everything with money without doing anything themselves. It is seen that a man who has been living abroad for a long time is going abroad again as his sons cannot do anything in the country and is marrying his daughters to a boy who is living abroad. Because they may seem to be in good spirits, they may not be in a crisis of non-existence but in a crisis of identity! The person who leaves his beloved family and takes care of every second, keeps pace with the people of other countries, ignores all the surrounding problems, earns money abroad, is the only person who can do anything when his beloved family is by his side when he comes to the country. Can't, he's completely unemployed! His only identity, was abroad, returned abroad! Before and after there is nothing to introduce him! It is usually seen that it takes a long time to come to the country and decide what they will do. Go one by one and see again - something like a grocer, a stationery, a mobile shop, a shopping mall. They choose to do this because they want to spend more time with each other than with profit or loss.
In fact, it is not his fault or theirs. The fault is ours. Because, we can't use them or create a working environment for them. If we could do that, they could do much better in the light of their long-term work experience, skills, punctuality and discipline, and play a direct role in the social and economic development of the country.
Banks usually provide loans to returnees to survive on small business or to go abroad again. On the other hand, day after day, from generation to generation, medium or long-term bank loans are handed over to a class of people to trade on a large scale in the form of projects.
If we think of agriculture-based industries or establishments which are essential for the rural areas, we will see that not every village but every union has one standard or sophisticated chicken farm, one cattle farm, one fish farm, one fish mill, one rice mill, one flour mill. , There is a need for a vegetable zone. If any union in Bangladesh has all of them, then it can be seen that all of them are owned by one or a few people. The cost of these rural or agricultural based projects ranges from Rs. 1.00 crore to Rs. 5.00, 6.00, 10.00 crore. Lending as 50% of the total project cost is not a very difficult task for the banks especially not at present as we know that the banks are accumulating a lot of lazy money at present. We can easily manage the rest of the project money from one or more foreign returnees. In this case, it would have been better if the government or banks or NGOs could have started by distributing 50% of the shares among the others. This is because the government or the banks or NGOs could easily use their own resources, instruments, financial analysts and other experts which could play a huge role in making the project profitable and productive.
The issues that are given more importance in providing medium- or long-term bank loans are equity or equity, securities or collateral. Although many projects in our country have a good start, they often close in the middle or at the end due to lack of adequate equity and security. If not, all returnees can afford it, many will be able to secure equity or equity, security or collateral. Because, many people have a lot of lazy money in the bank day after day, year after year. We can easily invest in these projects by ensuring equity and security by keeping their money in the bank as a block. And we can also ensure transparency by applying the most sophisticated method of conducting business - avoiding the issue of receiving or paying all income and expenses in cash and managing through bank accounts.
In this way, if we can stand on the side of well-to-do people with medium or long-term loans instead of small loans, we can directly involve these people in economic development or commercial activities, then we can use lazy money, rural economic development, job creation as well as brighten their social identity. I think their direct role in the socio-economic development of the country will surely inspire others which will be undeniably beneficial for the individual, the financial institution, the country, the economy of the country.
Md. Anamul Haque is a Banker. He can be reached at [email protected]