In the pursuit of political interests: a Tk304 crore loan, thousands of workers laid off, and the looting of state assets—Biman Bangladesh Airlines during the era of Dr. MA Momen and the illegal Muhammad Yunus.
When Dr. Momen served as Managing Director of Biman Bangladesh Airlines from 2006 to 2008, the national flag carrier fell into financial distress, entangled in a web of corruption and self-interest. He worked closely with officials from the illegal Yunus administration, who, under political patronage, normalized employee layoffs, financial irregularities, and the misuse of assets.
During Dr. MA Momen’s tenure as Managing Director of Biman Bangladesh Airlines, the institution became trapped in financial pressure, irregularities, and selfishness. Even after securing a Tk304 crore loan from the World Bank—whose interest and liabilities Biman still bears to this day—he used it solely for personal gain rather than to shoulder the responsibilities.
Under the guise of a Voluntary Retirement Scheme (VRS), 2,177 officers and employees were terminated, even though the organization’s workforce or operational efficiency was never excessive. These layoffs were carried out unethically, followed by the “planned” re-hiring of staff on contract to restructure the workforce. This procedure was not merely a financial tactic but the erasure of politically influential decisions.
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A 2008 investigation report by the Anti-Corruption Commission (ACC) clearly highlighted issues in Biman’s engineering division, lease agreements, maintenance expenses, penalty collections, and losses amounting to crores of taka. One after another, political decisions and a network of irregularities plunged the institution into corruption.
These steps, taken for political maneuvering and party interests, have damaged the country’s economy and the trust of ordinary people. The Tk304 crore loan and the abuse of excessive authority in his role make it evident how devastating the pursuit of self-interest under any political influence can be.
Dr. Yunus made him the chairman of the ACC, ignoring calls of civil society leaders and watchdogs to reform the institution first.
During the era of Dr. Momen as the ACC chairman, Biman Bangladesh Airlines became a hub for self-interest and political greed. The rights of ordinary workers, state assets, and the national economy all fell victim to their selfish decisions.
In the 18-month period, Yunus got his corruption cases withdrawn through executive orders and instead weaponized the ACC for political revenge, making hundreds of decisions to sue Awami League leaders, businessmen, and other professionals. The convictions in some cases against Awami League President and five-time Prime Minister Sheikh Hasina and her family members in false and fictitious cases prove the shamelessness of Dr. Yunus and Dr. Momen.
One day, they will both be brought to justice.