CO-OPERATIVE MOVEMENT IN BANGLADESH
Professor M.A. Baqui Khalily
Dept. of Finance
University of Dhaka
MBA 11th Batch
Dept. of Finance
University of Dhaka.
Date of Submission
28 March 2011
The specific form of enterprise called Co-operative, relying on the specified principles, has proven successful both in developed & developing countries. For socio-economic co-operative bank reduces banking exclusion & foster the economic ability of millions of people by playing an influential role on the economic growth in the country & increase the efficiency of International financial system. Co-operative banks differ from stockholders banks by their organization, their goals, their values & their governance. In most countries, they are supervised & controlled by banking authorities & have to respect prudential banking regulation, which put them at a level playing field with stockholders bank. In Bangladesh, Co-operative organizations are supervised by the Govt office for Co-operative.
Around 1900, Raifijon, a German social worker carried out a successful experiment on co-operative over comparatively low-level farmers group. Based on this experiment, an officer of British Government Mr. Nicolson prepared a report, and following this report the co-operative movement started in 1904 in Indo-Pak subcontinent. 1947-1971:
In 1947, during the separation of India & Pakistan, the co-operative movement remained under the patronization of the Government. In 1948, Government established the Apex Bank for co-operative which is known as Bangladesh Samabaya Bank. Credit program was operated through this Central Co-operative Bank by the involvement of Union Multipurpose Bank. The prime source of this lending was from the commercial financing of the Central Bank of Bangladesh. During 1957-58, this activities were widely spread out all over...