Daily Dhaka Times: An allegation has been made in the name of The Metropolitan Christian Co-operative Housing Society Ltd. (MCCHSL) regarding registration under the Co-operative Act. While doing this work, they are creating massive irregularities in the country’s financial sector and creating a chaotic situation.
Metropolitan Christian Co-operative Housing Society Ltd (MCCHSL) chairman Augustine Purification is leading such a serious example of chaos in the country’s financial sector. Who has already been discussed as a mafia in the co-operative.
In this regard, he is known to have received black money deposits through illegal banking activities outside the law. According to the source, Section 26 of the Co-operative Societies Act 2001 (Amended 2002, and 2013) states- “No co-operative society except Bangladesh Co-operative Bank shall accept deposits or grant loans from any person or institution other than its members”.
The Chairman of The Metropolitan Christian Co-operative Housing Society Ltd. (MCCHSL), Augustine, is accepting deposits from non-Christians and non-members by naming them as saving or investing members outside the Purification Act.
Even breaking the law, various institutions like the Scheduled Banks, Central Association of Christian Co-operatives, Laxmibazar Christian Co-operative Credit Union Ltd., Tumilia Christian Co-operative Credit Union Ltd., Nagri Christian Co-operative Credit Union Ltd., Harbaid Christian Co-operative Credit Union Ltd., Nayanagar Christian Co-operative Credit Union Ltd., Daripara Christian Co-operative Credit Union Ltd., Rangamatia Christian Co-operative Credit Union Ltd., Charanda Christian Co-operative Credit Union Ltd., Bhadun Christian Co-operative Credit Union Ltd., Mathbari Christian Co-operative Credit Union Ltd. is also holding deposits of various Primary and Central Co-operative Societies in clear violation of the Co-operative Act.
Especially Muslims and other non-Christians are depositing the illegally earned black money of government officials at high interest. The interest rate against deposits of MCCHSL is more than double the bank’s prevailing interest rate. Interest up to 15% is paid. The audit report of the Directorate of Co-operatives has been directed to determine the interest rate of deposits in accordance with the circular of the Registrar and the prevailing interest rate of the bank.
The interest rate is high, unlike banks, you don’t have to pay VAT tax like a bank, and if you deposit in a Christian institution, no one will know – for these reasons, Muslim police officers, corrupt government officials of various departments, including the Co-operative Directorate, consider it safe to deposit their earned black money here, according to reliable sources.
According to related sources, in this case, deposits of non-Christians are accepted in a special process using the ID of Christian members. Christians are required to submit a church marriage certificate for married persons and a church baptism certificate for unmarried persons to join or deposit.
False affidavits of being Christians were made in the name of Muslims and other non-Christian depositors and stored in the office as documents. They adopted novel methods of Christianizing documents to deposit only black money. Many Savings deposit Accounts in the name of Muslims have been found in MCCHSL. MCCHSL has already earned the title of “Switch Bank” of Bangladesh as it is a reliable institution for keeping black money safely.
Besides, in violation of Section 18(1) of the Co-operative Societies Act-2013 (Amendment), MCCHSL is conducting activities outside the authorized working area, in violation of the 14 branch offices and Rule 12(2) of the Co-operative Societies Rules-2004. The audit report conducted by the Directorate of Co-operatives has criticized all these issues directly and indirectly.
The audit report has asked MCCHSL to stop accepting illegal deposits, operating branches outside the working area, and engaging in activities outside the Co-operative Act and its rules and by-laws. The Directorate of Co-operatives is aware of the illegal banking activities of The Metropolitan Christian Co-operative Housing Society Ltd. However, the co-operative organization continues its illegal activities uninterruptedly under the patronage of some dishonest officials who accept extortion.
Notably, MCCHSL Chairman Augustine Purification recently purchased a house at 113 Homeland, Michigan, USA. Sources claim he smuggled money to America in the process of money laundering to buy a house.
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