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Ill-motivated propaganda against Sikder Group


Published : 10 Jun 2020 10:03 PM | Updated : 07 Sep 2020 02:56 PM

The Sikder Group management has protested news items published by different newspapers on the group, rejecting it as false and fabricated.
In a statement undersigned by its Vice-President Mahfuzur Rahman, the group said on Wednesday that a vested quarter made misleading remarks in the news items against Sikder Group, creating scope of raising questions amongst the public about the group’s reputation.

The statement said all media outlets and those concerned should be aware that the Sikder family, now known as Sikder Group, is headed by Mr. Zainul Haque Sikder, who left Bangladesh with his family after the brutal assassination of Bangabandhu and his family members in 1975 for India and from there to United States in 1980 for business.

“Founded in 1981 as a company called Sikder Incorporate, Sikder Group has long been conducting various businesses, including real estate, in the United States. Profits from those businesses have led to investments in abroad and the resultant wealth, thus meaning no wealth was generated through smuggling money from the country,” it said.

The statement said it is natural for the group to have assets in the country from profits derived from various businesses within the country (mentioned in the published news).

“It is worth mentioning that the ownership of CNN Money Switzerland’s television channel is not true at all. CNN Money is not a TV channel in Switzerland; it’s a web-based business news portal partially owned by Sikder Group.”

The statement termed ‘speculative’ the possibility of using National Bank in so-called smuggling money abroad saying that Sikder Group is known to be an established business in the United States before the founding of the National Bank.

It said the group has rather brought foreign currency to the country at different time. “When Mr. Abdul Awal Mintoo and other directors were in charge of the bank, i.e. before 2009, the bank had a capital of Tk 912.46 crore, a deposit of Tk 7.683 crore and a profit of Tk 340 crore. At that time shareholders were paid a 55% stock dividend. Since Mr. Zainul Haque Sikder took over as the chairman, the capital of the bank has now increased to Tk 5,477 crore and the amount of deposits to Tk 36,630 crore while 95% dividend has been paid in the form of stock-- the highest in the history of the bank”

According to the statement, the number of branches of the bank has increased from the previous 131 to 209 which along with 15 sub-branches -- the highest in the private banking sector of the nation -- are providing services across the country.

It said the ‘Koi Resort’ at St Kitts and Nevis mentioned in the news items is basically a partnership abroad of an international chain/franchise. “It is running in important cities around the world and is established with the special permission of the government of that country.”

The statement said Sikder Group’s business establishments in different countries are registered under the laws of those countries and are conducting business there with good reputation following proper rules and regulations. “These successful international businesses of Sikder Group are a matter of great pride for Bangladesh and the expatriates.”

It called ‘irrelevant and unexpected’ the reference of the so-called threat to Exim Bank’s Managing Director in the report while making news item on the group’s huge assets. “The matter is under investigation and at this stage giving out any judgmental statements is against the law.”

The statement said, “The news of Group Managing Director Mr. Ron Haque Sikder and his brother Dipu Haque Sikder leaving the country posing as patients is completely untrue. Mr. Ron Haque Sikder, after receiving all the necessary approvals due to his illness, went to Thailand legally by an air ambulance to save his life. He is still receiving treatment at the hospital. Publishing news without any investigation is tantamount to slandering an individual. The authority of the Hon’ble Prime Minister has been questioned by questioning the parliament membership of Ms Parveen Haque Sikder, daughter of Mr Zainul Haque Sikder, Chairman of the group.”

“The young journalists of this generation may not be aware of the contribution of Sikder family to the great war of independence and the political relationship of Chairman of the group Mr. Zainul Haque Sikder with Father of the Nation Bangabandhu Sheikh Mujibur Rahman,” it added.

The statement termed ‘unfortunate’ the expression of doubt by Mr. Ibrahim Khaled, a reputed banker of the country, about how the money went abroad. “Mr. Salehuddin [Ahmed], a former Governor of Bangladesh Bank, has also made similar comments which we think are not well thought out. It has already been said that foreign investment and the assets of the group abroad have been generated from foreign businesses since 1981. It may be mentioned that Sikder Group established by Mr. Zainul Haque Sikder has been regularly providing revenue to the government of Bangladesh since 1962.”

Sikder Group has been running with reputation the first private bank in Bangladesh, National Bank Ltd, the first women’s medical college, Zainul Haque Sikder Women’s Medical College and Hospital, power stations, private aviation and emergency medical evacuation service, economic zone, port development, real-estate and township mixed commercial project, print media, huge infrastructure development, science university, international hotels and resorts, international chain restaurants, international web-based business news portal, CNN money Switzerland.

The continuation of the reputation has been covered in the December 2019 edition of the world-renowned TIME magazine under the headline "Sikder Group Powering Positive Change in Bangladesh" and in the April 2020 edition of the influential US magazine FORTUNE magazine under the caption "Sikder Group - Driving for Positive Change in Bangladesh".

The statement said a pro-Pakistan quarter is running and spreading misleading news against Sikder Group to tarnish the reputation of this well-known group, inspired by the spirit of the War of Liberation and dedicated to building Bangabandhu's Sonar Bangla.
The group expressed the hope that media outlets will do proper research before publishing news items on the group in the future.