Local Government, Rural Development and Cooperatives Minister Dr Abdul Moin Khan has called for transforming the Bangladesh Cooperative Bank into an effective tool for the economic liberation of poor and disadvantaged people in the country.

He made the call while addressing the 49th general meeting of Bangladesh Cooperative Bank Limited as the chief guest at the Multipurpose Hall of the Department of Cooperatives in Agargaon, Dhaka, on Tuesday (September 8).

The minister said the primary objective of cooperatives is not to make profits but to ensure the economic empowerment and liberation of poor and disadvantaged people. However, alongside its social responsibility, the bank must maintain financial discipline and comply with rules and regulations to remain sustainable.

He said a culture of taking loans without repaying them is unacceptable. If borrowers face difficulties in repaying loans due to natural disasters or genuine circumstances, such cases will be considered on humanitarian grounds. However, deliberate loan default by using borrowed money for other purposes will not be tolerated.

Calling on officials and cooperative members to present the bank’s problems in a logical manner, the minister said he would work together with cooperatives to make the bank more effective for the welfare of the country’s poor people.

Additional Secretary of the Rural Development and Cooperatives Division Pradip Kumar Mahottom presided over the meeting.

Secretary of the Rural Development and Cooperatives Division Dr Rafiqul E Mohamed and Director General of the Department of Cooperatives Md Selim Fakir were present as special guests.