Saga of a banker
Wednesday, 4 May 2011
Mamun Rashid
Weeks before a vernacular daily took a swipe at me through their three reports. What did I do to earn these? Maybe, just guessing though- 1) having worked at home and abroad on the capital market businesses, I attained an above average visibility how an ill governed market could be manipulated or even disciplined and 2) some well wishers (!!!!), of mine possibly recommended my name for a regulatory role with regard to capital market. The first report identified me with the opposition lobby, having facilitated transfer of money of the few convicted political leaders, through a North American bank I worked for little over 9 years. The second report made me a very close business ally of the present regime, having favoured the business house to acquire two non-bank financial institutions, for which they quoted the highest price and the third report blamed me for supporting a corrupt person named `Professor Yunus' and having sided with the immediate past interim government as well as editors of two leading dailies. All the reports tried to justify why I should not be considered for that specific role for which I didn't apply for. Nor anybody even bothered to collect my resume. My well wishers and friends at home and abroad of course didn't like this bashing of a humble banker and few of them wanted me to stand up against these vicious and motivated propaganda. I sent a polite rejoinder, on the first report. It was not published. After that I had to leave the country to visit an ailing friend abroad, but propaganda didn't stop, again trying to justify why I should not be considered for that specific role. The reporters concerned never bothered to allow me to defend my position or even ask any senior banker- 1) whether any bank in Bangladesh can remit fund of an individual or a large sum through banking channel without regulatory approval, not to talk about a bank, which didn't open any individual account, 2) whether one can sell the property or assets of a global multinational without the owners' approval and 3) whether a humble banker is free to support another `great banker to the poor', especially in a democratic country. Life was never bed of roses for me. I have always made my way forward with the blessing of the Almighty. I became the youngest management committee member of a leading international bank 22 years ago and was placed outside the country after one year of joining that bank. And, more importantly, I became the youngest chief executive of a leading North American bank, after 911, in a predominantly Muslim country not respected much for corporate standards or business or political ethics, at the age of 40. I have been contributing to the leading vernacular and English dailies for last 20 years and have authored 5 books on economics and business issues. I have been teaching marketing, management, entrepreneurship and banking at various public and private universities, enough to earn the envy and wrath of my many friends and well wishers (!!!!). Maybe respect too. Yet we are different kind of bankers having been committed to developing entrepreneurship in a transition economy like that of Bangladesh. My predecessors in the state owned banks earned global respect for authoring `back to back letters of credit', a distinctive few of my seniors significantly contributed towards creation of few large local business houses and a a few managed the transition to make the global banks to focus on Bangladesh corporate rather than only foreign companies. Some of us were seen shuttling between the banks and a `painted glass building' in Dhaka city's north zone to protect the clients' actions during the interim regime. Few of us had to go extra miles to speak in favor of the business leaders in the electronic media, since many lives were dependent on the success of their business. Some of my banking colleagues attended office very late in the night or early in the morning or even on 'Eid days' to facilitate a client's transactions in a different time zone country in North America or even in Latin America. I am sure there are a few who are still doing this, going extra miles for finding solutions to clients' problems. Yet we are seldom recognized for our efforts to help the country march forward. There is no national award for bankers, I have not seen any bankers being awarded for getting Bangladesh onto an enviable position for apparel exports or creating so many large, medium and small entrepreneurs in this country, for facilitating country's largest fertilizer project, country's first proper hospital, worlds first micro -credit receivables securitization, largest IPO, largest bond, largest foreign acquisition in a local company or moving very first to raise financing for Sidr or Aila affected zones. Bankers do not side with any political regime and only work for facilitating country's trade and commerce. But many of us, if not all, go to the polling stations and do vote for one or other political party. We do remain busy being people with multiple tasks on hand. We do contribute significantly towards opinion building and take the economy forward. However, just because we keep our mouths shut or don't raise our voice against dirty politics or yellow journalism, it does not mean that we are alone. 'None of us is as strong as all of us'. The writer is a banker and economic analyst. He can be reached at: mamun1960@gmail.com
Weeks before a vernacular daily took a swipe at me through their three reports. What did I do to earn these? Maybe, just guessing though- 1) having worked at home and abroad on the capital market businesses, I attained an above average visibility how an ill governed market could be manipulated or even disciplined and 2) some well wishers (!!!!), of mine possibly recommended my name for a regulatory role with regard to capital market. The first report identified me with the opposition lobby, having facilitated transfer of money of the few convicted political leaders, through a North American bank I worked for little over 9 years. The second report made me a very close business ally of the present regime, having favoured the business house to acquire two non-bank financial institutions, for which they quoted the highest price and the third report blamed me for supporting a corrupt person named `Professor Yunus' and having sided with the immediate past interim government as well as editors of two leading dailies. All the reports tried to justify why I should not be considered for that specific role for which I didn't apply for. Nor anybody even bothered to collect my resume. My well wishers and friends at home and abroad of course didn't like this bashing of a humble banker and few of them wanted me to stand up against these vicious and motivated propaganda. I sent a polite rejoinder, on the first report. It was not published. After that I had to leave the country to visit an ailing friend abroad, but propaganda didn't stop, again trying to justify why I should not be considered for that specific role. The reporters concerned never bothered to allow me to defend my position or even ask any senior banker- 1) whether any bank in Bangladesh can remit fund of an individual or a large sum through banking channel without regulatory approval, not to talk about a bank, which didn't open any individual account, 2) whether one can sell the property or assets of a global multinational without the owners' approval and 3) whether a humble banker is free to support another `great banker to the poor', especially in a democratic country. Life was never bed of roses for me. I have always made my way forward with the blessing of the Almighty. I became the youngest management committee member of a leading international bank 22 years ago and was placed outside the country after one year of joining that bank. And, more importantly, I became the youngest chief executive of a leading North American bank, after 911, in a predominantly Muslim country not respected much for corporate standards or business or political ethics, at the age of 40. I have been contributing to the leading vernacular and English dailies for last 20 years and have authored 5 books on economics and business issues. I have been teaching marketing, management, entrepreneurship and banking at various public and private universities, enough to earn the envy and wrath of my many friends and well wishers (!!!!). Maybe respect too. Yet we are different kind of bankers having been committed to developing entrepreneurship in a transition economy like that of Bangladesh. My predecessors in the state owned banks earned global respect for authoring `back to back letters of credit', a distinctive few of my seniors significantly contributed towards creation of few large local business houses and a a few managed the transition to make the global banks to focus on Bangladesh corporate rather than only foreign companies. Some of us were seen shuttling between the banks and a `painted glass building' in Dhaka city's north zone to protect the clients' actions during the interim regime. Few of us had to go extra miles to speak in favor of the business leaders in the electronic media, since many lives were dependent on the success of their business. Some of my banking colleagues attended office very late in the night or early in the morning or even on 'Eid days' to facilitate a client's transactions in a different time zone country in North America or even in Latin America. I am sure there are a few who are still doing this, going extra miles for finding solutions to clients' problems. Yet we are seldom recognized for our efforts to help the country march forward. There is no national award for bankers, I have not seen any bankers being awarded for getting Bangladesh onto an enviable position for apparel exports or creating so many large, medium and small entrepreneurs in this country, for facilitating country's largest fertilizer project, country's first proper hospital, worlds first micro -credit receivables securitization, largest IPO, largest bond, largest foreign acquisition in a local company or moving very first to raise financing for Sidr or Aila affected zones. Bankers do not side with any political regime and only work for facilitating country's trade and commerce. But many of us, if not all, go to the polling stations and do vote for one or other political party. We do remain busy being people with multiple tasks on hand. We do contribute significantly towards opinion building and take the economy forward. However, just because we keep our mouths shut or don't raise our voice against dirty politics or yellow journalism, it does not mean that we are alone. 'None of us is as strong as all of us'. The writer is a banker and economic analyst. He can be reached at: mamun1960@gmail.com