Why is BANGLADESH stopping ISLAMIC BANKS? – VisualPolitik EN

Posted By on September 27, 2019

Bangladesh is the only country with an Islamic
majority whose president is a woman. Her name is Sheikh Hasina. And this is not a little example. We are talking about the 3rd biggest muslim
country, with more than 160 million inhabitants. Nonetheless, there is one Bangladeshi even
more famous than Sheikh Hasina. This is, MOHAMMAD YUNUS, the Nobel peace prize
winner and the inventor of microcredits is also from Bangladesh. This is surprising given that in this country,
only 1 out of 3 citizens has a bank account… Bangladesh is one of the fastest growing economies
of the last few years. They have reduced poverty faster than anyone
else. And they are the world’s second largest
textile manufacturer, only surpassed by China. But despite all of that, most of the Bangladeshi
people still keep their money at home. And now you might wonder… Why? What’s going on in Bangladesh that causes
people not to trust the banks? Well, the answer is religion. According to Islam, lending Money with interest
is a sin. And 90% of the Bangladeshi population happens
to be muslim. But wait a minute because things are changing! In the last few decades, Muslim countries
have created a system that allows saving and lending money and which also meets their Islamic
principles. Yes, my dear viewers, we are talking about
Islamic Banking, a phenomenon that is becoming more and more important in Bangladesh. You might think this is great news for the
government of Sheikh Hasina, right? Well, in fact, the opposite is true. Islami Bank: Bangladesh’s Most-Watched Bankers
So now the question is Why does the government of Bangladesh distrust Islamic banking? And more importantly… What is the role islamic banking might have
in the future of Bangladesh? Today we are going to answer these questions. But before we do, let’s answer the most
urgent of all… WHAT’S ISLAMIC BANKING ALL ABOUT? Imagine we have 1000 USD in a saving account. A western bank can give us an interest rate
of say… 3%. I’m sure many of you have wondered… How is it possible that a bank gives us money
just for holding it? Where is the profit here? Well, the truth is this. The 1000 USD we put in the bank will not remain
in the bank’s safe. Instead, they use that money to lend to companies
and individuals. Those loans have a higher interest rate so
the bank makes money and gives us a little share of that profit. This is the Basic mechanism of the Western
banking system. Of course, there are many ways to avoid risk. Depending on the country we live in, the bank
is forced by law to keep a small percentage of those 1000 USD. That percentage cannot be lent and it’s
called the CASH RATIO. According to SHARIA LAW, this system is sinful
because lending money with an interest is unfair. Of course, there is no problem with keeping
your client’s money. But you can’t lend it to anyone. In economic jargon, this means that SHARIA
LAW demands a 100% cash ratio. So this is, in summary, is the way Islamic
Banks work. And now you might wonder… where is the business
here? Well, mainly, Islamic banks make money by
two means. First, the banks charge their clients commissions
for keeping the money. So, instead of giving you an interest rate,
Islamic banks can only give you a little, symbolic present. This present is called the HIBAB. Another business practice that is allowed
by sharia law is adding “overcosts”. For example, let’s say we buy a house with
an Islamic bank. In this case, the bank will buy the house
for us and then, they will sell it back to us with at a higher price. This price is called the MUSHARAKA, and we
can pay it in instalments. If, for whatever reason, we can’t complete
the payments, the bank will sell the house in the market. If they get some profit for this selling,
we, the client, might take a share of that profit. But wait a minute because this is not the
end of the story! The Koran bans banks from investing in what
they consider ‘dirty businesses’ like tobacco, weapons or pornography. There is even a special index. The “DOW JONES ISLAMIC MARKETS” index
which has 1400 companies from the New York stock market where Islamic banks can invest. As you can imagine, these banks are becoming
really successful in several muslim countries. But, well, in Bangladesh they are kicking
arse. Islamic banking is growing rapidly in Bangladesh
with a market share of about 20 percent. Today, there are already 8 banks of this kind
in Bangladesh. Even Western banks like CITY are starting
to offer Islamic banking services for those who demand them. In a country where bribes are a thing everywhere,
Islamic Banks are famous for their transparency and good practices. Islamic Banks, for instance, are famous for
having nothing to do with the Bangladesh government. So, if you wanted to get a loan from an Islamic
bank, you had to demonstrate yourself that you were a reliable client willing to pay
back your debts. But wait a minute because things are not as
good as they seem for islamic Banks! GOOD BANK, BAD BANK
Islamic banking arrived in Bangladesh in 1983, when some Saudi and Kuwaiti hedge funds created
the so called “ISLAMI BANK.” This bank played a crucial role in turning
an agricultural country into the textile powerhouse it is today. Today, clothes make up 80% of Bangladeshi
exports and Islami bank is the biggest bank in the country. Nonetheless, the growth of Islamic banking
in the country is not clear anymore. BANGLADESH CENTRAL BANK IS NOT GIVING NEW
ISLAMIC BANKING LICENCES Even those western banks that want to give
islamic banking services must wait. The Bangladesh Central Bank will not give
more licences. They claim they need to create brand new regulations
on the matter. Meanwhile, the Government of Sheikh Hasina
has sent inspectors to the Islami Bank offices and they are surveying all of their movements. THE GOVERNMENT INITIATES A COUP AT BANGLADESH’S
INTELLIGENCE So now you might wonder… What is wrong with the Islamic Banks and the
government? Well… Sheikh Hasina claims they are financing Islamic
terrorism. As we explained in this other video, Islamic
terrorism is becoming a real threat to the country. And many people think some of these banks
might be financing terrorist groups. However… there are several reasons that
make us believe that, at the end of the day, this is nothing but a power struggle. Sheikh Hasina loves to take things under her
control. And the fact that the biggest bank in the
country sympathizes with the proposals of the opposition party does not help. This is why, on January 2017, Hasina replaced
the Islamic bank’s board of managers with her own supporters. Since then, loans have skyrocketed, and the
Bangladesh Central bank itself has warned that some of those loans are too risky. Meanwhile, those Saudi and Kuwaiti hedge funds
that created the bank, 35 years ago, are now taking back their money. They simply don’t think it is safe anymore. But wait a minute because this is not the
first time Sheikh Hasina tried to control the financial industry in her country! Do you remember Mohammad Yunus? Well… he is in Hasina’s crosshairs too… In the year 2006, after some terrorist attacks,
the Bangladeshi army organized a coup d’etat and created a technocratic government. Back then, Mohammad YUNUS was a favourite
candidate to lead that government. In the end, it didn’t happen. But Hasina learnt a vital lesson: beware of
the bankers. Sometimes, they like to get involved in politics. This is why Hasina’s first priority after
taking position in 2008, was to take care of Yunus. First of all, she forced him to resign as
the chairman of his own bank, the GRAMEEN bank. Of course, some of her claims were true. Make no mistake, Mohammad Yunus is not a perfect
guy either. But we will talk about this in another video… But if making him resign was not enough, Hasina
started a campaign to diminish his image in Bangladesh society. NOBEL LAUREATE YUNUS GOT HILLARY CLINTON TO
STOP WB FUNDING FOR PADMA BRIDGE, SAYS HASINA In other words, Sheikh Hasina knows how to
beat her political enemies. First it was Yunus, now it’s the Islamic
banks. So the question now is Do you think there
is an actual connection between Islamic Banks and terrorism? Or is this just an excuse made up by Sheikh
Hasina in order to keep the finance industry under control? And should Bangladesh allow Islamic banks
to operate in the country without restrictions? Please, leave your answer in the comment section
below. And, if you wanna learn more about Bangladesh
and the Islamic threat they are suffering, please, click on the video that will appear
at the end of this one. Also, visit RECONSIDER MEDIA.Com, the podcast
that provided the voices in this video that are not mine. And don’t forget that we publish brand new
videos every week so hit that subscribe button to make sure you don’t miss a post. If you liked this video, give us a thumbs
up and, as always, I’ll see you next time.

Posted by Lewis Heart

This article has 100 comments

  1. Islamic ia just hypocrite…
    Interest/riba change the word to profit
    Loan word to selling money

    At the bottom of the heart is just a same

  2. Islam is a false religion since it denies the death and resurrection Lord Jesus and and His God hood. Bible rejects all other prophets and also rejected Koran as false and misleading. Lord Jesus will destroy Islam and all Muslims if they don't repent and believe in Jesus Christ who only can forgive our sins

  3. you said it the islamic banking is successful in other places so what stops it from growing there has nothing to do with terrorism it just an excuse for her to achive her goal

  4. As a Bangladeshi citizen, I want to thank the creators for this video. We all need to unmask Hasina like this and find out her true color.

  5. The reason jews and muslims beat everyone else because they lend interest free to fellow jews and muslims and others just rob each other

  6. Wahabism is NOT ISLAM . In fact it’s far from it . It is an evil entity practiced by political people & Not “true Muslims”.

  7. Once again, you get your facts wrong. I don't know how many times I've come across your channel putting out badly-researched information. What you're suggesting is that Hasina is the exception for being a Muslim female head of state. There have been many "Islamic countries" (whatever that means!) with female heads of state, at least four. Just for comparison, how many does the US have? What about other "progressive" European countries? Do you not have Google to do basic fact-checking? How hard is it to look it up before spreading misinformation? I guess truth doesn't matter anymore. #posttruth

  8. I mean.. how can we know if they are funding terrorist groups? They have to watch them and bring prove to the people that is undeniable.

    There is no "i think" or "you think" if you can easily have black and white data.

  9. Haseena and bangladesh beaurocracy is hijacked by indian right wings associates, and they are controlling bangaldesh and its their geo regional interest to keep the country under control

  10. Western banks lend out depositor's money ? – Really, when have you ever seen money taken out of your bank account statement saying "we loaned this out?" – Never

  11. I'm sorry, but do I think there is a connection to terrorism? What possible value is my uninformed opinion on the subject? Either there is or there isn't. I don't know, and neither I wager does anyone else on this comments section.

  12. The very beginning is clearly bias and misleading but guess that is standard with Simon, who is more and more coming out as a shill "The only Muslim country that has female president". It is prime minister actually and before that Indonesia, Turkey and many others had female president way before Europe and some other countries. Islamic banking or lack of interest (reba) is also Jesus's teaching so that would be forbidden for anyone feeling like a Christian. If Bangladesh wants to keep thriving he should have 100% Islamic banking and no reba (interest) but also kick out Saudi influence (they are bringing terrorism by request of USA) because they are mostly have their capital multiply by reba in the West. All this looks like attempt at WB/IMF and other USA agencies taking control of a new emerging market and who else to support it but good CIA guys from VisualPolitik EN with their perceived accented objective view. I seriously hope this is not their real opinion, then would doubt their intelligence.

  13. carful of the wahabism but the basic of islamic is good thing tho it same systeme that make the old islamic world go in his golden age

  14. Interests in the West have succeeded at stifling any legitimate Islamic movement with this word terrorism. Anything that threatens the current financial order of debt slavery for any country to have even a chance at prosperity is immediately thrown under this label. This is the sad reality for Muslims today.

  15. can see so many followers of this lady dictator commenting here…praising her..while about 80% people don't like her at all….she knew that people will kick her from the power that's why she rigged the election which was held a week earlier….students have to protest, job seekers have to protest, even the garments workers are protesting just for some basic needs and here are some morons talking about development.

  16. I am a Bangladeshi. And my opinion is that, Islamic Bank is only trustfully Bank in our country. But the Prime Minister Shak Hasina is trying to control this Bank.

  17. Wow, that's what I call a major spin. We can't charge interest, so we add up what the interest would cost and add it on top of the loan. Talk about self deception.

  18. Bangladesh is perfect people are good this greedy political bitch in power fucking up the country just gain power she is a thrive and her son is people of Bangladesh are to stupid to open there eyes

  19. The Issue with Islam is, it teaches deception and violence. To a real, and genuine Muslim funding terrorism is "MORAL" obligation, according to their prophet.

    The Koran’s 164 Jihad Verses: K 002:178-179, 190-191, 193-194, 216-218, 244; 003:121-126, 140-143, 146, 152-158, 165-167,169, 172-173, 195; 004:071-072, 074-077, 084, 089-091, 094-095,100-104; 005:033, 035, 082; 008:001, 005, 007, 009-010, 012, 015-017, 039-048,057-060, 065-075; 009:005, 012-014, 016, 019-020, 024-026, 029,036, 038-039, 041, 044, 052, 073, 081, 083,086, 088, 092, 111, 120, 122-123; 016:110; 022:039, 058, 078; 024:053, 055; 025:052; 029:006, 069; 033:015, 018, 020, 023, 025-027, 050; 042:039; 047:004, 020, 035; 048:015-024; 049:015; 059:002, 005-008, 014; 060:009; 061:004, 011, 013; 063:004; 064:014; 066:009; 073:020; 076:008

  20. Facts are off (Prime Minister, not President, manufactured clothes not textiles, what coup in 2006? Do you mean 2007? And how can Yunus be fired a year after he retired?), premise is off, (high bank fees, minimum balance requirements and poor service standards deter small account holders who have instead adopted mobile wallet based systems in large numbers. Interest based lending and borrowing is commonplace including traditional money lending well established in the culture.)

    You make a generalised critique of Islamic banking and just decided to domicile your narrative in Bangladesh. You hugely overstate the role of Islami Bank in the garment sector and you did nothing to disprove the hypothesis that Islamic Banking channels are being misused to finance extremism.

    This was the yellowest of all yellow journalism I have seen in a long time.

  21. To all those who do not understand what an Islamic bank is, including Simon. it is a dirty lie made by greedy bankers to steal Muslims money in the name of Islam

  22. Regardless if you are East or West, it matters not if you control the laws, if you have control of the money… This woman took that paraphrase bit to heart and wants BOTH…

  23. Do not think this video has been made with good intention. Just glimpse of information without detailing which may lead anyone to adverse understanding. Dr. yunus and Islami Bank Ltd had different issues. Though the government had an issue with Dr yunus regarding power politics. But the issue of Islami Bank ltd (IBL) had a complete different perspective. IBL was mainly controlled by Jamayati Islami, an extremist islami political group. This political group had a proven connection with war crimes during the War of Liberation of Bangladesh 1971. In current days it has been alleged that they patronize various militant activities in Bangladesh time to time. So please do some deep research before making such video.

  24. The claims of funding terrorism is true. I don't support any of the political parties in Bangladesh because they are all BS, but she uses the ISIS card for any one of her political or business opponenets. She even made the claim that a certain village was controlled by ISIS nad had armed fighters gaurding the gates. She tends to make pretty outrageous claims but she uses the fact that her father founded the country as leverage to cement her control and garner support. The political parties in Bangladesh will also pay students to hold riots and beat people who vote for the opposing party.

  25. i'm from bangladesh..that vicious woman doesn't belongs to bangladesh..shes the most evil corrupt illegitimate ruler our country saw in its history…she destroyed all things bangladesh could be proud of..her sincerity is to ensure indian interest..

  26. This is actually a trivial matter here in Bangladesh, and as of 2019, the Muslim population only consist of 82% (without taking in account how many of them are practicing Muslim.) We are dealing with a one of the largest refugee crisis in our southern border and we allegedly (ahem, ahem) ruled by an authoritarian turning autocratic regime. In fact, I didn't even know what Islamic bank was until I watched this video.

  27. An Islamic Bank functions by support ling a business by getting a a share of their profits for a amount of years without interest.
    Which is a very good and has also been the solution to debt and interest.
    But if these banks in Bangladesh have a agenda that is a different story far from the science of Islamic Banking

  28. Islamic Bank was working for many years in BD with trust and confidence.But The government has destroyed the financial sectors as we now recognise.Only Islamic Bank can practice real banking which can grow gdp in a proper way.

  29. Wrong worng. in Islam interest in not allowed but share in business is allowed , you can land money but can not take fixed money. You have share in business that money does

  30. Bangladesh is a lovely nation, despite all odds it's headed in the right direction and it will be very successful in the future, they have made tremendous progress on all social indices and continue to do so

  31. Bank buy home, initially 80% rent being earned by bank, client have 20% discount,as he is a partner
    Then with time, ownership of Tenent increase and for Bank its in decline
    (20 years passed) tenent is now Owner
    both satisfied 👌

  32. Actually Bangladesh Govt and Political Leaders want to snatch the money from the Banks. This is the good Technique to do so.

  33. Stupid way to get the video to reach the 10 minute mark.
    Plus, don't zoom in on your face so often. It's annoying. No offence

  34. Another blunder about Bangladesh! The video starts-off with a wrong piece of info right away, which would surely make you lose credibility for other videos as well! In another video, you showed footage of India while describing Bangladesh!

    I wonder why can't your production team EVER cover sth about Bangladesh withOUT messing sth up big-time!!!

  35. Financing terrorism is just a excuse. She turned the best bank of Bangladesh a mess by puting people close to her party in the manegerial position.

  36. First off, it wouldn't surprise me even a tiny bit if the Islamic banks were funding terrorism. HOWEVER, I think that before you start shutting them down, you need hard proof. Therefore, I would get a few intelligence agencies and tax agencies (like the USA's IRS agency) to check each one out.

  37. how about this. u took loan from bank and unable to pay back with interest.. and bank took all of ur wealth to cover ur loan..so far interest based bank is bad.. if u want to know more details about Islamic banking system reply me or search in google or authentic youtube channel

  38. She is rather running the country with lawnmower, anything spooky appears is being dissolved with terrorism tag, its astonishing how fascism coated with patriotism with a hint of democracy here.

  39. Countries like Australia, Japan, South Korea the UK managed to go very far because they realised that economic progress comes before religion. The four countries are all among the least religious in the world today.
    Bangladesh must do the same or else religious superstitions will continue to stop people from opening bank accounts.

  40. Thanks a million for making a video on Bangladesh. I am not interested in religion. I am telling just the truth. Islamic Bank is very popular in Bangladesh because of their good customer service. Sheikh Hasina or Awami League damaged it for their political interests.
    Sheikh Hasina is angry with Dr Yunus because he got the Nobel prize. Sheikh Hasina wanted the Nobel prize but it is not chocolate.
    I wrote an article about Dr Yunus on my blog. My blog is nilufarbegum.blogspot.com.

  41. May they be prosperous enough to feed their own people and stop crossing Indian border and polluting and populating our holy Indian soil.

  42. Thank you for the video… I see that the Islamic banks are just banks with another way of working , and i don't think that there is a relationship between terrorism and Islamic banks…
    Can you please provide us with books names or links for more infos🌺🌺🌺

  43. Well as an Bangladeshi I would welcome Islamic bank for their contributions to the country’s economy. And love to see this dictator government goes away, who actually cannot give values to the country’s paramount citizens like Dr. Younus or worldwide known photographer and journalist Sahidul Alam. When the whole country privately going forward, boosting the economy, one of the best growing economy in the world, this governments corruption dragging the economy into the black hole again.


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