Welcome Finance Enthusiasts !!

Landlocked from 3 sides and embracing the Bay of Bengal, Bangladesh is an important ally of the Indian subcontinent. After India’s independence in 1947, the territory of Bangladesh was under the rule of Pakistan (then known as West Pakistan). Bangladesh formerly known as East Pakistan fought free from the oppression and won independence from West Pakistan in 1971 with the aid of then Indian Prime Minister Indira Gandhi. Bangladesh literally means Bangla speaking nation. The red disc in the flag represents the blood shed by the Bangladeshis for independence. The green background represents the greenery and beauty of the land.

The country headlined global news in August’24 when the Prime Minister Sheikh Hasina resigned and abdicated amid the controversial government job quota. There were heavy protests from the students, clashes between the government, public and opposition and loss of lives. The protests began in June’24 when the Bangladesh High Court reinstated the 30% government job quota for the children and grandchildren of the fighters from the 1971 war of independence. The public unrest intensified and they began to demand the resignation of the PM. Sheikh Hasina fled from the country and sought asylum in India, staying in a government safe house with heavy security. In the meantime the Bangladesh military announced the formation of the interim government, with the Nobel Laurette Mohammed Yunus as the Chief Advisor. The role of Chief Advisor is equivalent to the Prime Minister till the time general elections are held and a parliament is formed.

The political discord between Hasina led Awami League (AL) and Bangladesh Nationalist Party (BNP) has been the highlight of the country’s democracy. Sheikh Hasina, daughter of Sheikh Mujibur Rehman (founder of Bangladesh) has been one of the most powerful PMs of Bangladesh. She re-mobilised her father’s party Awami League and ended the military rule. Under her leadership the country’s economy made huge progress and the poverty levels reduced. In 2017, the government was kind enough to provide refuge to the Rohingya Muslims from the genocide inflicted by the Myanmar military.

The country is a source of cheap labour hence a garment manufacturing hub for US and Europe textile giants like Zara, H&M, GAP etc. The country is the largest exporter of ready-made garment, jute and jute products and seafood. The rich Sunderban delta bed is suitable for rice crops and the country is the third largest rice producer. The Sunderbans are the largest mangrove forest and home to the Royal Bengal Tiger and Unesco World Heritage. The pristine Cox Bazar Beach is a tourist attraction.

The Bangladesh ready-made garment industry is significant to the country’s economy however the labourers are subjected to inhumane conditions, long working hours, and health hazards. The unmanaged waste is a grave risk to the water bodies and the environment. The country is vulnerable to cyclones due it’s low river bed and proximity to the Bay of Bengal. On one hand the Ganga delta regions are prominent for the agriculture and fertile fields of Bangladesh, on the other hand the main reason for the frequent destruction from the cyclones and flooding.