Co-Operative Movement in Bangladesh
Assignment on
Co-operative Movement in Bangladesh
Rural Financial Market & Microfinance
Course no: 519
Submitted to
Dr. M. A. Baqui Khalily
Professor
Department of Finance
University of Dhaka
Submitted by
Md. Farhad Uddin
Roll No: 11-071
MBA (11th Batch)
Department of Finance
University of Dhaka
Date of Submission: 28th March, 2011.
Co-operative Movement in Bangladesh
Introduction:
Co-operative movement is a series of planned activities with a common goal. The term usually refers more specifically to the formation of non-profit economic enterprises for the benefit of those using their services. Begun in England in the nineteenth century, the co-operative movement stimulated Bengal in the last decade of the century. At first, some British civilians started it in their districts with considerable success. On the initiative of the government of Bengal, it was launched with the enactment of the Co-operative Credit Societies Act 1904. The theoretical origin of the co-operative movement is to be traced from the writings of Robert Owen, Louis Blanc, Charles Fourier and others.
Colonial Period:
The traditional rural credit system collapsed under the weight of the colonial system. Consequently, the rural economy gradually became dependent on an informal credit market dominated by Mahajans (moneylenders). With the commercialization of agriculture under the colonial dictates, rural indebtedness further increased and by the end of the nineteenth century, the agricultural and Artisan classes became almost totally subjected to the control of usurious moneylenders.
In view of the rising indebtedness of the peasantry and artisan classes, the colonial state came forward to solve the problem with its own panacea - co-operative societies. According to the Act of 1904, the co-operative societies were to be established in every district and were required to be managed by members on democratic lines. The general meeting elected a chairman and a committee of management. All
Co-operative Movement in Bangladesh
Rural Financial Market & Microfinance
Course no: 519
Submitted to
Dr. M. A. Baqui Khalily
Professor
Department of Finance
University of Dhaka
Submitted by
Md. Farhad Uddin
Roll No: 11-071
MBA (11th Batch)
Department of Finance
University of Dhaka
Date of Submission: 28th March, 2011.
Co-operative Movement in Bangladesh
Introduction:
Co-operative movement is a series of planned activities with a common goal. The term usually refers more specifically to the formation of non-profit economic enterprises for the benefit of those using their services. Begun in England in the nineteenth century, the co-operative movement stimulated Bengal in the last decade of the century. At first, some British civilians started it in their districts with considerable success. On the initiative of the government of Bengal, it was launched with the enactment of the Co-operative Credit Societies Act 1904. The theoretical origin of the co-operative movement is to be traced from the writings of Robert Owen, Louis Blanc, Charles Fourier and others.
Colonial Period:
The traditional rural credit system collapsed under the weight of the colonial system. Consequently, the rural economy gradually became dependent on an informal credit market dominated by Mahajans (moneylenders). With the commercialization of agriculture under the colonial dictates, rural indebtedness further increased and by the end of the nineteenth century, the agricultural and Artisan classes became almost totally subjected to the control of usurious moneylenders.
In view of the rising indebtedness of the peasantry and artisan classes, the colonial state came forward to solve the problem with its own panacea - co-operative societies. According to the Act of 1904, the co-operative societies were to be established in every district and were required to be managed by members on democratic lines. The general meeting elected a chairman and a committee of management. All
Bibliography: Maniruddin Ahmed, Co-operatives in Bangladesh: An Overview, Bangladesh Co-operative College, 1989; R B Ewbank, Indian Co-operative Studies, Oxford University Press, 1920; J P Niyogi, The Co-Operative Movement in Bengal, Macmillan and Co, 1940.