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Money Market is an integral part of the financial market of a country. It provides a medium for the redistribution of short-term loanable funds among financial institutions and non-financial institutions. Participants in the money market are: central bank, commercial banks, government, finance companies, contractual saving institutions like the pension funds, insurance companies, savings and loan associations etc. The instruments that are generally traded in the money market constitute: treasury bills, short-term central bank and government bonds, negotiable certificates of deposits, banker’s acceptances and commercial papers like the bills of exchange and promissory notes, mutual funds etc.
The money market in Bangladesh is in its transitional stage. The various constituent parts of it are in the process of formation, while continuous efforts are being made to develop appropriate and adequate instruments to be traded in the market. At present, government treasury bills of varying maturity, Certificates of Deposits etc. in limited supply are available for trading in the market. Each bank maintains its liquidity and supply of fund is arranged throughout the country with the help of an interconnected network of branches. Bangladesh bank as central bank of the country exercises its role in this market through the use of instruments such as bank rate, open market operations and changes in statutory liquidity requirements.
Components of money market: The money market comprises banks and financial institutions as intermediaries, 20 of them are primary dealers in treasury securities. Interbank clean and repo- based lending, BB's repo, reverse repo auctions, BB bills auctions, treasury bills auctions are primary operations in the money market, there are also active secondary trade in treasury bills.
Bangladesh's money market is segmented into two groups: formal and informal. The formal institutions (up to 2010) include the Bangladesh Bank at the apex, 4 states owned commercial banks, 30 domestic and 9 foreign private commercial banks, 5 specialized (development) banks, 29 non-bank financial institutions, a number of non-scheduled banks. Informal institutions comprised mainly the moneylenders and small co-operative organizations, which are not under the control of the central bank.
The four distinct components of organized segment of money market of Bangladesh are:
•   the inter-bank market,
•   Market for Repo and Reverse Repo,
•   Call money market,
•   Bill market.
Inter-bank market: This market operates within a limited scale, in the form of inter-bank deposits and borrowings and has virtually no fixed price fixing mechanism. Traditionally, scheduled commercial banks lend to each other when they are in need of temporary funds. Sometimes, banks also keep a part of their resources to other banks as deposits and borrow as and when needed against the lien of those deposits. Small banks usually keep their funds as deposits with large banks for safety.
Non-bank financial institutions also take part in inter-bank market operations in Bangladesh through the lending of their funds to deficit banks.
Inter-bank transactions, although constitute an integral part of money market, comprise a small portion of total banking activities. Inter-bank deposits as percent of total deposits varied between 2 and 5 percent during 2009-2010.
Certificate of deposit: CD was introduced as a money market instrument in Bangladesh in 1983. Its objective was to strengthen the money market and bring idle funds, including those arising from black money and unearned incomes, within the fold of the banking system. The Bearer of Certificate of Deposits (BCD) with a fixed maturity is issued by and payable at the bank to Bangladeshi nationals, firms and companies. The certificate does not contain the name of the purchaser or holder. The interest rate is not fixed as in the case of other deposit resources accepted by the banks at present.
The interest is determined on the date of issue of CDs based on the demand and supply of funds in the money market. The difference between the face value of CDs and the prepaid interest is received by the bank from the purchaser of CDs at the time of issue. The bearer of CDs can sell the same to another purchaser. The bank maintains no record other than the Certificate No., rate of interest allowed, and the date of sale and encashment. A bank does not issue certificate of deposits for the value exceeding the limit prescribed for it by the Bangladesh Bank.

Bill market: is restricted to buying and selling of government treasury bills. These bills are marketable papers that can be resold in the market at a competitive rate. Usually, the holders of these bills sell them for cash to the banks, which pays the holder the face value of the bills less collection charges and the interest for the remaining period of the bill. Net issuance outstanding for treasury bill in 2017-18 was tk.1795 crore.
The T-bill market is still a largely captive market by financial institutions having no SLR obligations and corporate or non-corporate firms. Semi-government or autonomous bodies having temporary surplus funds or the institutions having pension funds are investing in government treasury bills /bonds through auction mechanism under non-competitive bid. Thus, the scope of bill/bond market is growing in the recent year. Secondary market of this segment is increasing gradually which will largely remove the illiquidity of the instrument.
Recent trends: Last year, the money market in Bangladesh experienced a less liquidity pressure during FY 2017-18 as evident from a downward trend of moving interbank repo and call money rate. Bangladesh Bank (BB) provided Repo facility on rare occasions as well as BB also decreased the repo rate several times in accordance to the adjustment with the market. The call money market plays a significant role in day-to-day liquidity management of the money market in Bangladesh. The call money rate, unlike the interbank repo rate, includes a risk premium for being an unsecured type of instrument. An increased activity in the interbank call money and interbank deposit market was observed along with a almost stable call money rate since July, 2015. State-owned commercial banks (SCBs) were the top lenders in the call money market while PCBs and NBFIs remained top borrowers.

Inter Bank Repo Transactions: The interbank repo rate represents the money market rate as it is determined by the demand and supply of funds in the financial sector. Overall interbank repo transactions, which amounted to BDT 144,862.09 crore in FY 2017-18, showed a 24% decreased from FY 2016-17. The declining trend in interbank repo is consistent with the trend in the issuance of government treasury securities. Since interbank repo transactions are collateral based and government securities comprise bulk of those collaterals, adequate supply of government securities is required for smooth functioning of this market.
Reverse Repo: BB uses reverse repo operations as a monetary policy instrument which is used to control the money supply in the economy and it is provided overnight (one day) basis. Investment of banks in the reverse repo started to increase in the FY 2015-16 to sweep up the additional liquidity. In FY 2016-17, through focusing more on the BB Bills in parallel with reverse repo, helped to manage inflationary pressure and reduced excess liquidity in banks. BB issued BB bills worth for sterilization purpose as well as to manage liquidity in the banking system to keep reserve money growth in line with the program level. BB bills with different maturities such as 07, 14 and 30-days respectively were issued in this regard.
Call money market: The call money market is an essential part of our Money Market, where the day-to-day surplus funds (mostly of banks) are traded. Call money rate is the rate at which short term funds are borrowed and lent in the money market. The duration of the call money loan is 1 day. Demand and supply of liquidity affect the call money rate. A tight liquidity condition leads to a rise in call money rate and vice versa. The transactions in call money market usually take place on the basis of bilateral negotiations. Since call loans are made on clean basis, i.e, without any security, lending institutions/banks are always cautious in the selection of borrowing banks/institutions.

Faculty Sections / Leftist parties of Bangladesh

« on: July 25, 2019, 12:34:34 AM »

Do we know about leftist parties of our country? Here is a short description:
Below are the leftist parties of Bangladesh:
•   Awami League (Grand Alliance)
•   Communist Party of Bangladesh
•   Communist Party of Bangladesh (Marxist–Leninist) (Barua)
•   Communist Party of Bangladesh (Marxist–Leninist) (Dutta)
•   Communist Party of Bangladesh (Marxist–Leninist) (Umar)
•   Jatiya Gana Front
•   Jatiya Samajtantrik Dal (Grand Alliance)
•   Jatiya Samajtantrik Dal-JSD
•   Maoist Bolshevik Reorganisation Movement of the Purba Banglar Sarbahara Party
•   Purba Banglar Sarbahara Party
•   Purbo Banglar Communist Party
•   Revolutionary Workers Party of Bangladesh
•   Sramik Krishak Samajbadi Dal
•   Socialist Party of Bangladesh
•   United Communist League of Bangladesh
•   Workers Party of Bangladesh (Grand Alliance)
•   Jatiya Oikya Front

Now we will be taking a look at their symbols and mottos:
Name: Awami League (Grand Alliance)
Symbol:
Motto: Joy Bangla
Name: Communist Party of Bangladesh
Symbol:

Ideology: Communism, Marxist-Leninism, Maoism
Slogan/Motto: Not specified

Name: Communist Party of Bangladesh (Marxist–Leninist) (Dutta)
Info: The Communist Party of Bangladesh (Marxist–Leninist) is a political party in Bangladesh led by Ajoy Dutta. Dutta's BSD(ML) is an underground party.
The party publishes the newspaper Porjash and is affiliated with the Revolutionary Internationalist Movement and CCOMPOSA

Name: Communist Party of Bangladesh (Marxist–Leninist) (Barua)
Info: The Communist Party of Bangladesh (Marxist–Leninist) is a political party in Bangladesh. The party's general secretary is Dilip Barua. The BSD-ML is part of the Left Democratic Front and the 11-Party Alliance. The electoral symbol of the party is a chair.

Name: Communist Party of Bangladesh (Marxist–Leninist) (Umar)
Info: The Communist Party of Bangladesh (Marxist–Leninist) is a Maoist political party in Bangladesh led by Badruddin Umar. Umar's BSD(ML) is an underground party and operates through its front Ganotantrik Biplobi Jote.

Name: Jatiya Gana Front
Info: Jatiya Gana Front (National People's Front) is a leftist political group in Bangladesh. JGF split from Workers Party of Bangladesh in 1995. JGF is led by Tipu Biswas.
In November 2007, JGF joined 10 other leftist political parties in forming the platform Gonotantrik Bam Morcha. The platform presented 15 demands, including that Fakhruddin Ahmed's caretaker government lift the state of emergency and allow political activities nationwide. In May 2010, JGF again joined most other leftist political parties to put forward a unified list of 11 demands in the areas of economics, justice, corruption, and abuse of power.

Name: Jatiya Samajtantrik Dal (Grand Alliance)
Symbol:

Ideology: Socialism

Name: Jatiya Samajtantrik Dal – JSD
Info: The Jatiya Samajtantrik Dal is a political party in Bangladesh. It was formed in 2002, through a split from the original Jatiya Samajtantrik Dal. The party is sometimes referred to as JSD (Rab) (after prominent party leader ASM Abdur Rab), to differentiate it from the mother party led by Inu. The Election Commission of Bangladesh calls the party Jatiya Samajtantrik Dal-JSD and the Inu-led party Jatiya Samajtantrik Dal-Jasad.

Name: Maoist Bolshevik Reorganisation Movement of the Purba Banglar Sarbahara Party
Info: Maoist Bolshevik Reorganisation Movement of the Purba Banglar Sarbahara Party is an underground communist party in Bangladesh. It was formed in 2001, following a split from the Purba Banglar Sarbahara Party.
PBSP(MBRM) has obtained observer status in CCOMPOSA. Moreover, the group has initiated contacts with the Maoist sectors that considers the Revolutionary Internationalist Movement as having taken a liquidationist direction. In November 2004 PBSP(MBRM) took part in an international conference in Malmö, Sweden, which was organized by opponents to the RIM leadership.

Name: Purba Banglar Sarbahara Party
Symbol:

Ideology: Communism, Marxism-Leninism-Maoism, Anti-revisionism, Anti-Imperialism

Name: Purbo Banglar Communist Party
Symbol:

Ideology: The PBCP follows a Maoist and staunchly Nationalist ideology it aims to overthrow the Bangladeshi government and replace it with a Communist state inspired by Maoist era China. The PBCP is staunchly anti-India, it views India as a hegemon in the region.

Name: Revolutionary Workers Party of Bangladesh
Symbol:

Ideology: Communism, Marxism-Leninism

Name: Sramik Krishak Samajbadi Dal
Info: Sramik Krishak Samajbadi Dal (Workers Peasants Socialist Party) is a Marxist-Leninist political party in Bangladesh. The SKSD was formed in 1969 by sympathizers of the Revolutionary Socialist Party of India in East Pakistan.[1] The party was led by A. K. Fazlul Huq.
In April 1983, the SKSD joined the 15-party alliance, which included the Awami League, to oppose the Ershad regime. When the alliance split over the question of whether to participate in the 1986 general election, the SKSD remained allied with four other left-leaning parties that pledged to boycott any elections held under Ershad. In 1994, the SKSD joined eight other left-wing parties to form the Left Democratic Front, which formed the core of the 11-party alliance in 1996. The alliance contested the June 1996 and 2001 general elections, but failed to win any seat. In the 2001 parliamentary elections, Nirmal Sen was the sole SKSD candidate. The 11-party alliance disintegrated in 2005.
The general secretary of the party is Nirmal Sen. The party publishes Samajbadi (The Socialist).
SKSD is currently (2005) the coordinator of LDF. The student wing of SKSD is the Samajbadi Chhatra Jote and the agricultural labour wing is the Khet Majdur Sabha.

Name: Socialist Party of Bangladesh
Symbol:

Ideology: SPB follows a Marxist-Leninist ideological line. The party claims to uphold the original intent of Karl Marx, Friedrich Engels, Vladimir Lenin, Joseph Stalin and Mao Zedong. SPB holds that Bangladesh is a capitalist country. In line with that analysis, the party works toward a socialist revolution in the country.
Political position: Far left

Name: United Communist League of Bangladesh
Info: The United Communist League of Bangladesh is a political party in Bangladesh, founded in April 2013 through the merger conference of the Communist League of Bangladesh and the Workers Party of Bangladesh (reconstituted) held in Dhaka. Mosharraf Hossain Nannu is the general secretary of the party, Abdus Satter, Azizur Rahman, Ranjit Chattapadhya and Afsar Ali serve as secretariat members. The founding conference elected a 19-member Central Committee. The party is aligned with the Left Democratic Alliance (Bangladesh).

Name: Workers Party of Bangladesh (Grand Alliance)
Symbol:

Ideology: Communism, Marxism-Leninism-Maoism, Anti-revisionism

Name: Jatiyo Oikya Front (note: Not leftist, rather a big tent with a lot of leftist parties under it)
Symbol:

Ideology: Bangladeshi Nationalism
Political Position: Big tent.

So, this is a brief list of all the leftist parties of Bangladesh.

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