Lt Gen (retd) M Harun-Ar-Rashid stepped down as a member secretary of Sector Commanders' Forum on Wednesday following a section of media reports accusing him of using the forum for the business of Destiny-2000 Ltd.
“I don’t want to make any trouble for the Sector Commanders' Forum. That’s why, I resigned,” Rashid, also the president of Destiny-2000 Ltd, told The Daily Star over phone.
Rashid sent his resignation letter through his messenger to the office of sector forum Chief Air-Vice Marshall (retd) AK Khandaker.
His resignation came following a number of reports published in different newspapers recently, brining allegation against him that he has been using the forum for the business of Destiny-2000 Ltd, a multi level marketing (MLM) company, which is accused of illegal banking and other irregularities.
A Bangladesh Bank inquiry recently found proof of illegal banking by Destiny Multipurpose Co-operative Society, a sister concern of Destiny.
Illegal banking by the company is creating disorder in the country's financial sector, said the BB probe report.
The central bank investigation has found that the company is involved in banking activities -- from deposit collection to lending -- illegally. It has around 70 lakh members and set a target to take the number to 1 crore by this year. The probe also found a link between the current liquidity crisis in the banking sector and the booming MLM business.
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