Economist Abul Barkat Arrested in ACC case

Prof. Abul Barakat, founder of the divisive theory of fundamentalist economy in Bangladesh

Dhaka, Jul 10 - Professor Abul Barkat, former chairman of Janata Bank and ex-chair of the Department of Economics at the University of Dhaka, has been arrested by the Detective Branch (DB) of Dhaka Metropolitan Police.

He was detained from Dhaka’s Dhanmondi area around 11:45 PM on Thursday  in connection with a case filed by the Anti-Corruption Commission (ACC), confirmed DB Joint Commissioner Nasirul Islam.

According to police, acting on a tip-off, DB conducted a raid in the area and apprehended him. Currently, he is being held at the DB office on Minto Road.

Professor Barkat is also the honorary Chief Advisor of the Human Development Research Centre (HDRC), a research institution.

He is the founder of the divisive idea of ‘Fundamentalist Economy’ in Bangladesh under which businesses and financial institutions owned by Islamists were categorized as ‘Fundamentalist’ and many such institutions subsequently became targets of government-backed ownership change that lead to their near collapse. - UNB