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Today’s Latest Financial News in Bangladesh

The recent nationwide shutdown of mobile and broadband internet connections during the job-quota-reform movement in Bangladesh has sparked controversy and raised questions about the reasons behind the disruption. In response to this issue, the government has formed a seven-member committee to investigate the causes of the shutdown and hold those responsible accountable.

The committee, led by Additional Secretary (Telecom) AKM Amirul Islam, will delve into the circumstances surrounding the shutdown and seek to uncover the truth behind the disruption of internet services. The formation of this committee comes after a meeting between Posts, Telecommunications, and Information Technology Advisor Nahid Islam and officials of the Department, where it was emphasized that actions would be taken against those responsible for the shutdown.

One key aspect of the committee’s investigation is the involvement of the Bangladesh Telecommunication Regulatory Commission (BTRC), as mentioned by BTRC vice chairman Aminul Haque. The full list of committee members is yet to be released, but it is clear that a comprehensive examination of the situation will be conducted to shed light on the events leading to the internet shutdown.

The suspension of internet services for around 10 days since July 18 has had significant repercussions on various sectors of the economy. The disruption affected banks, ATM services, online transactions, and e-commerce activities, resulting in substantial financial losses. The e-commerce sector alone reported a loss of approximately Tk 30 billion due to the shutdown, highlighting the far-reaching impact of the internet outage.

In addition to the economic consequences, the suspension of internet services has also led to internal turmoil within the Bangladesh Telecommunication Regulatory Commission. Following protests by over a hundred commission employees, two officials, Amjad Hossain Nipu and Mahdi Ahmed, were temporarily suspended on allegations of corruption, partisanship, and irregularities. The protests highlighted deep-seated issues within the commission, including claims of political influence and misconduct among high-ranking officials.

Despite the suspension of Nipu and Mahdi, questions remain regarding the fate of Chairman Mohiuddin Ahmed, who was reportedly absent from the office during the protests due to illness. The commission is now considering legal action in response to the employees‘ demands, signaling a potential shift in the internal dynamics of the regulatory body.

Overall, the formation of the investigative committee and the subsequent suspensions within the Bangladesh Telecommunication Regulatory Commission underscore the complexity of the situation surrounding the internet shutdown. As the probe progresses and more information comes to light, it is essential to address the underlying issues that led to the disruption and ensure accountability for those responsible. The outcome of the investigation will likely have far-reaching implications for the telecommunications sector and the broader economy in Bangladesh.

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