Businessmen and entrepreneurs across Bangladesh are confronting what they describe as an undeclared war against the country’s commercial sector. Reports of harassment, bank account freezes, fabricated legal charges, and extortion have emerged from Dhaka to industrial hubs nationwide, threatening to undermine investor confidence and disrupt the fragile economy.
Multiple sources confirm that prominent business figures are being summoned by the Anti-Corruption Commission (ACC) under what many believe to be politically motivated investigations. In several cases, authorities have frozen the bank accounts of large-scale business owners without prior notice. Additionally, companies listed on the Dhaka Stock Exchange have been targeted with legal cases, resulting in sudden drops in share prices and harming thousands of ordinary investors.
The situation on the ground has taken an even darker turn. Business leaders report that mobs have attacked their homes and office premises, often with impunity. Threats of violence are reportedly used to extort large sums of money, further intimidating those operating within the private sector. According to victims, these assaults are coordinated, and often the perpetrators operate without fear of law enforcement.
In what many consider the most alarming development, some businessmen are being implicated in fabricated criminal cases, including serious charges such as murder. Entrepreneurs say these tactics are designed to silence dissent and coerce compliance. “We are seeing darkness in broad daylight,” said a leading Dhaka-based industrialist who asked to remain anonymous. “If this continues, no one will dare to invest in Bangladesh.”
Industry insiders warn that the consequences are already rippling through the economy. A significant number of factories have ceased operations in recent months, pushing up unemployment and increasing social tension. After the July coup and the subsequent change in government, the private sector was already grappling with uncertainty. Combined with the impact of halted land trade routes, increased tariffs on exports, and reduced remittance inflows from the United States, domestic businesses are now struggling to survive.
Ironically, while local industries are under pressure, foreign firms are reportedly being offered new business opportunities, raising concerns over unfair treatment. “The ones who smuggled money abroad during the last government’s tenure are untouched,” said one business owner. “But those of us who invested in this country and created jobs are now being harassed.”
At a recent discussion organized by the Dhaka Chamber of Commerce and Industry (DCCI), business leaders expressed their frustration. The mood was grim. DCCI President Taskeen Ahmed painted a bleak picture of the nation’s commercial climate, saying that the combination of rising extortion, criminal activity, and harassment has pushed many entrepreneurs to the brink of collapse. “This isn’t just about individual losses,” he said. “Investor confidence is eroding. Once that is gone, it’s incredibly difficult to restore.”
Ahmed also highlighted that macroeconomic indicators have been deteriorating since the start of the July political crisis. According to data from the Bangladesh Bureau of Statistics, the national unemployment rate rose to 4.63 percent in the final quarter of 2024, with 2.73 million people currently out of work—an increase of 325,000 from the previous year.
The trend extends to foreign direct investment (FDI), which dropped sharply amid growing political and economic uncertainty. Bangladesh Bank reports a 26 percent year-on-year decline in net FDI for the first nine months of the current fiscal year—down to $861 million from $1.164 billion in the same period the year prior. Domestic investment has also suffered, with private-sector loan growth falling to just 6.82 percent in February, from 7.15 percent the previous month.
Former Chief Economist of Bangladesh Bank and Director General of the Bangladesh Institute of Development Studies (BIDS), Dr. Mustafa K. Mujeri emphasized that the current situation is deeply damaging. “This is not just a financial crisis,” he warned. “The law and order breakdown, false cases, and coordinated attacks are creating fear across the business community. This will inevitably lead to reduced investment, lower production, and more unemployment.”
Dr. Mujeri added that these events risk long-term damage to Bangladesh’s economic future. Without swift and transparent reforms, the country may face capital flight, industrial collapse, and social unrest. “Investors—both domestic and international—need stability, security, and fairness. Right now, none of those are guaranteed,” he said.
As fear grips the nation’s entrepreneurial class, there is an urgent call for government intervention. Business leaders are urging authorities to prosecute financial criminals from the past regime while protecting today’s legitimate investors and industry builders. Failure to do so, they warn, could push the country into an irreversible economic downturn.
Bangladesh now stands at a crossroads. Unless the trend of persecution and instability is reversed, the country’s reputation as a growing South Asian economy may be permanently tarnished.
Bd-pratidin English/ Jisan
