Despite facing profit challenges in recent years, 13 non-banking financial institutions (NBFIs) spent over Tk 8.32 million on celebrating Mujib Borsho, marking the birth centenary of Sheikh Mujibur Rahman. This data was provided by the Bangladesh Bank to the Financial Institutions Division (FID) following instructions from the government.
The expenditure spanned six fiscal years up to FY2023-24. Out of 35 NBFIs, 13—both government and private—allocated significant funds, while the remaining 22 spent minimal amounts on the celebrations. The highest spending was recorded in FY2018-19 and FY2023-24, accounting for over Tk 6 million of the total.
IPDC Finance Ltd topped the list, spending Tk 3.2 million, followed by Lanka Bangla PLC (Tk 1.3 million), Islamic Finance (Tk 1.15 million), MIDAS Financing (Tk 0.99 million), IDLC Finance (Tk 0.777 million), and IDCOL (Tk 0.660 million).
An insider from one of the NBFIs alleged that the spending was not voluntary. "NBFIs were compelled to allocate funds for Mujib Borsho under instructions from government offices," the source claimed. This has raised questions about the necessity of such expenditures, especially in a time of declining profitability in the sector.
The interim government has asked various state agencies, including scheduled banks, to provide detailed reports on their spending for Mujib Borsho. A senior FID official confirmed that once all data is compiled, the total expenditure across agencies would be disclosed to the public.
Mujib Borsho, declared by Sheikh Hasina's government, was celebrated from March 17, 2020, to March 26, 2021, to honor the centenary of Sheikh Mujibur Rahman’s birth. The initiative, endorsed by UNESCO, saw widespread celebrations across Bangladesh and abroad, reflecting its global significance.
Bd-pratidin English/ Jisan
