Thursday, February 05, 2015



Small Traders depend on profit from everyday sales, may have the opportunity of Bai-Murabaha Micro Investment.
- Any Bangladeshi citizen living in the jurisdiction of any branch of DMCBL for at least 3 years can apply for the Bank’s Investment.
- To receive any sort of Investment, one has to initially become a member of DMCBL. To become a member, one has to pay a Taka 400.00 membership fee and buy shares of Taka 100.00/share.
- Furthermore, anyone seeking Investment opportunities must also open a Mudaraba Savings/ Current Account with the bank and make a minimum deposit of Taka 50.00 on a daily basis for 30 days on that account.
- In addition, a Mudaraba Monthly Savings Plan (MSP) Account must be opened for a period of 5 or 10 years that requires monthly deposits.
- At the time of Investment, the Investee is required to deposit 10% of the investment amount in their Savings Account as Lien.
- And finally, in the event of any type of investment, the investee is liable to pay Taka 100.00 for loan forms, Taka 50.00 for the creation of charge documents, and any form of stamp charges for documents that require them.
They provide collateral free loan upto 2 lacs.
Krishibid group multipurpose cooperative application form
Great projects by kingshuk cooperative
some cooperatives

Deeder Cooperative Society

The story revolves around a visionary tea stall proprietor, Mohammad Yeasin, who, in the late 1950s, was deeply troubled by the extreme poverty, food scarcity, illiteracy and unemployment he saw around him. Akhtar Hameed Khan (see above) was teaching nearby at this time and was equally distressed by the situation, which he witnessed every day on his way to and from work. One day, these problems were being discussed in Yeasin’s tea shop and Khan, who was sitting drinking tea, was asked if he could find a way to help. He replied that he couldn’t offer money but that he could offer advice. His advice that day was that they should set up a society and start saving. They protested, saying that they had nothing to save. However, Khan told them that they could begin in a small way. So, for example, instead of having five cups of tea a day in the tea stall, they could have just three cups and save the money from the remaining two cups. In 1959, Yeasin started the society with 8 rickshaw-pullers and the princely sum of nine annas – one from each person. Thus began the Deeder Cooperative Society. At this stage in the story, the Chairman pointed me in the direction of a framed picture containing photographs of the original nine. (See photograph on left above.) I have a vivid picture in my head of that day in 1959 in the tea stall.
To cut a long story short, as the savings grew, the cooperative went on to achieve very positive social and economic impacts in the two villages. Mohammad Yeasin was awarded the 1988 Ramon Magsaysay Award for Community Leadership. You can read more about his life and the cooperative on the award page. (In BARD, a director told me that the Ramon Magsaysay Awards are like the Oscars of the east, although for me a better analogy might be the Nobel of the east.)
After being brought up to date on the work of the cooperative, I went on a walk-about to see some of the society’s work. I saw their vehicle yard, the hall, the cooperative market and the brick-making field. I walked along peaceful, rural paths through bucolic country scenes while pumps chugged away in the background, irrigating the surrounding rice paddies. (I also asked, much to their surprise, to have a look at a ‘deep tube-well’: I had heard and read so much about these that I wanted to see exactly how one worked.)
There is ongoing talk of extending the cooperative movement throughout Bangladesh.

five (5) types of co-operatives

  • Multipurpose Co-operative Societies - supply both consumer commodities and agricultural services to their members and the local community.
  • Consumer Co-operative Societies - provide a wide range of retail to both rural and urban communities.
  • Producer Co-operative Societies - make products or offer a service to sell for profit where the workers are members or worker-owners; they work in the business, govern it and manage it;
  • Marketing Co-operative Society - find better markets for members' produce and provide credit and other inputs to increase members' production levels; and
  • Savings and Credit Co-operative Societies (SACCOS) - members pool their savings together with the aim of obtaining loans from their pooled resources for provident (carefully planned future needs) and productive purposes.
Why cooperative better

Difference between cooperative and limited company
cooperative rules in nz

Detail difference in India between company and cooperative

2. Number of members:
The minimum number of persons is 7 in a public company and 2 in a private company. A cooperative requires at least 10 members. The maximum number of members is 50 in a private company and 100 in cooperative credit society. There is no maximum limit in case of public companies and non-credit cooperative societies.

3. Member's liability:
The liability of members of a company is generally limited to the face value of shares held or the amount of guarantee given by them though the Companies Act permits unlimited liability to companies. The members of a cooperative society can opt for unlimited liability. But in practice their liability is generally limited.
4. Membership:
The membership of a cooperative society is open at all times and new members have to pay the same amount per share as old ones have paid. A company, on the other hand, closes the list of members as soon as its capital is fully subscribed. People who want to become members later on have to buy shares at the stock exchange.
5. Management and control:
The management of a cooperative society is democratic as each member has one vote and there is no system of proxy. In a company, the number of votes depends upon the number of shares and proxies held by a member.
There is little separation between ownership and management in a cooperative society due to limited and local member­ship.

7. Share capital:
In a company, one member can buy any number of shares but an individual cannot buy more than 10 per cent of the total number of shares or shares worth Rs. 1,000 of a cooperative society.
A public company must offer new shares to the existing members while a cooperative society issues new shares generally to increases its membership.
The subscription list of a cooperative society is kept open for new members whereas, the subscription list of a company is closed after subscriptions. A company is thus capitalistic in nature while a coopera­tive society is socialistic.
8. Transferability of interest:
The shares of a public limited company are freely transfer­able while the shares of cooperative society cannot be transferred but can be returned to the society in case a member wants to withdraw his membership.
A member of a cooperative society can withdraw his capital by giving a notice to the society. A shareholder, on the other hand, cannot demand back his capital from the company until it's winding up.



interest free loan new frontier of social development

“The loans are of particular assistance to those poor families who end-up having to pay interest to loan sharks. They work all their lives simply paying back the interest.
“We help is by paying off the initial debt and then settle the interest owed with the creditor.
“Many people’s lives have been ruined by these huge interest payments. They find no way out.”
Akhuwat derives its name from ‘mwakhaat’ or brotherhood. It has sought to base its movement on the principles of ‘Qarz-e-Hassn’ found in the Islamic tradition which entails helping someone in need with interest free loans, a practice favoured over charity.

Syed Rehan Hussain added, “Over the past ten years we have supported over 500,000 people and presently have 215,000 active clients.
“We have enterprise loans, education loans, marriage loans and emergency loans among others.”
“A total of 7.5 billion rupees has been lent. An average loan is 18,000 rupees and it can be paid back within 12-18 months.”
The recovery rate for the loans is remarkably 99.82% - an astounding figure for a nation like Pakistan.

“The loan is essentially given out on trust and paid back through trust.”
“We do not have overheads in terms of local offices because mosques, churches and temples are used as places where the initial meetings take place.”
The loan process starts with the submission of applications by persons interested in getting financial assistance. The Unit Manager (Loan Officer) then evaluates that whether the applicant deserves the loan or not i.e. lives below the poverty line, has a reliable social capital, is not involved in any illegal business and possesses entrepreneurial abilities.

Audit System
The organizational structure is well defined and the hierarchies provide various checks briefly indicated here below:
  • The Area Managers spend one day every week in the branches under his control.
  • The Credit Operations Manager visits the branches ones in a month.
  • The Finance Manager monitors the funds inflows and outflows, he also visits the branches every month.
  • The Internal Auditor carries out audit of the branches quarterly.
  • An External Auditor carries out an appraisal of the branches annually.
  • Every year social audit is also conducted in which 80% credit cases are physically verified during field visits.
  • External Audit is conducted by a reputed Chartered Accountant Firm annually.

·         Interest-free microcredit:
Akhuwat provides the economically poor with interest free loans so that they may acquire a self-sustaining livelihood. It also provides the skills and support they need to actualize their full potential and abilities.

Linkages with Religious Places:
An important and novel idea associated with individual loans is the use of the local mosque/church infrastructure as the center for loan disbursement and as an avenue for community participation.

Spirit of volunteerism:
The spirit of volunteerism that Akhuwat’s management and its team members exhibit is indicative of the success Akhuwat achieved within a short span of time.
·         Transforming borrowers into donors:
Akhuwat encourages its borrowers to donate to Akhuwat’s program and so help their brethren once the borrowers themselves have gained enough economic stability. However these donations are neither compulsory nor have any bearing on the borrower’s credit profile.

However, before receiving the
loan the applicant has to become a member of the organization
and that requires paying a membership fee equivalent to 5 percent of the loan amount. In addition, the applicant also has to pay 1
percent of the loan amount to buy insurance, which covers the risk
of death or becoming handicapped. In case of death the loan is
written off and the family is provided Rs.5,000 for funeral
expenses. If the client was the only earning member of the
household then the family is provided with Rs.1,000 a month for
three months to meet basic expenditures. If the client becomes
handicapped then again the loan is written off and he is provided a

The organization’s performance on profitability and sustainability
has been steadily improving. However, as Akhuwat does not
charge any interest on its loans, and only charges a membership
fee of 5 percent, it is unable to cover its costs which stand at 7



Half board-full board, Barrels to litres, land measurement in Bangladesh

Half board, usually means bed, breakfast & evening meal.
Full board : add mid day meal
All inclusive is all meals, snacks (mainly for kids) and in most cases locally produced drinks.

Barrels and litres
Barrel is a volume unit. Dry, fluid and oil barrels are used widely and they are different in sizes. The abbreviation is "bbl".
Liter is volume unit which equals to 1 cubic decimeter. It is widely used in daily life to measure the fluids. 1 liter of water has a mass about 1 kilogram. The abbreviation is "l".
1 Barrel [US, Fluid] = 119.240471 Liters
1 Barrel [US, Oil] = 158.987295 Liters
1 Barrel [UK] = 163.65924 Liters
How many liters of petrol are produced from one barrel of crude oil?
It depends on the refinery configuration. In typical indian refinery the product pattern based on weight basis is about 4% LPG, 13% petrol (MS),50% Diesel and remaining products such as Naphtha, kerosene, Fuel oil, pet coke, sulphur etc.
The one barrel of crude consist of appx 159 Liters. With the above typical configuration the production will be such as petrol approx 20-30 Lit per barrel of crude, Diesel 80-90 Lit and remaining will be the other products.

Land measurement Bangladesh

Bigha is a traditional unit of land in all over Bangladesh, with land purchases still being undertaken in this unit. In terms of acre, 3 bighas is just 0.5 katha short of 1 acre.
Measurements of area in terms of bigha
1 Bigha (বিঘা) = 20 katha (কাঠা) (14,400 sq ft or 1,337.8 sq m)
1 Katha (কাঠা) = 720 sq ft (66.89 sq m)
1 Acre (একর) = 3 bigha (বিঘা) 0.5 katha (কাঠা) (4,840 sq yd or 43,560 sq ft)


Calculation of area of land in Bangladesh

Formula of Paki, Bigha and Decimal:

1 Paki = 1 Bigha = 33 Decimal
1 Decimal = 1 Shotangsho (Shotok) = 435.6 Sq Feet (approx)
1 Kattah (or Cottah) = 720 Sq Feet (approx)
20 Kattah (or Cottah) = 1 Bigha
3 Bighas = 1 Acre approx. (1600 square yards)
4 Kora = 1 Gonda
20 Gonda = 1 Kani
80 Kora = 1 Kani
120 Decimal = 1 Kani

Formula of Square Feet and Kani:

17280 Square Feet = 1 Kani
1619 Square Meter = 1 Kani
40000 Square Links = 1 Kani
7680 Square Hat = 1 Kani
1936 Bargogoz = 1 Kani
40 Acore = 1 Kani

Formula of 8 Hat nol :

12 Nol * 10 Nol = 120 Bargonol

Kani and Gonda as square feet:

17280 Square Feet = 1 Kani = 20 Gonda ( Measurement of 8 Hat nol )
864 Square Feet = 1 Gonda = 4 Kora
216 Square Feet = 1 Kora = 3 Kransti/Kontho
72 Square Feet = 1 Kransti = 20 Til
3.6 Square Feet = 1 Til

Formula of Square Feet and Acore:

1 Chain = 66 Feet
10 Square Chain = (66*660) or 1 Acore = 43560 Square Feet
1 Acore or 100 Shotok = 43200 Square Feet

Formula of Square Link, Acore and Shotok:

1 Chain = 100 Link, So 1 Square Chain = 100*1000 =100,000 Square Link = 1 Acore
1 Acore Or 100 Shotok = 1,00,000 Square Link
1 Shotok = 1,000 Square Link
100 Link = 66 Feet

Formula of Kani and Gonda as Square Link:

1 Kani Or 20 Gonda = 40,000 Square Link
1 Gonda Or 4 Kora = 2000 Square Link
1 Kora Or 3 Kanti = 500 Square Link
1 Kranti Or 20 Til = 160.66 Square Link
1 Til = 8.33 Square Link

Formula of 8 Hat Nol as Square Hat:

1 Kani Or 20 Gaz/Yard = 7680 Bargo Hat
1 Gonda Ot 4 Kora = 384 Bargo Hat
1 Kora Or 3 Kanti = 96 Bargo Hat
1 Kranti Or 20 Til = 32 Bargo Hat
1 Til = 1.6 Bargo Hat

Formula of Kani and Gondar fo 8 Hat Nol as Square Feet:

1 Kani Or 20 Gonda = 17280 Square Feet
1 Gonda Or 4 Kora = 864 Square Feet
1 Kora Or 3 Kontho/Kranti = 216 Square Feet
1 Kontho Or 6 Donto = 72 Square Feet
1 Dondho Or 7 Dhul = 12 Square Feet
1 Dhul Or 30 Renu = 1.71 Square Feet
1 Renu = 0.057 Square Feet

Formula of Kani and Gondar as Bargo Gaz/Yard:

1 Kani Or 20 Gonda = 1936 Bargo Gaz (Square Yard)
1 Gonda Or 4 Kora = 96.8 Bargo Gaz (Square Yard)
1 Kora Or 3 Kranti = 24.2 Bargo Gaz (Square Yard)
1 Kranti Or 20 Til = 8.06 Bargo Gaz (Square Yard)
1 Til = 0.40 Bargo Gaz (Square Yard)

Formula of Kani and Gondar as Square Meter:

(40.47 * Meter * 39.67 = 1605 Square Meter)
1 Kani Or 20 Gonda = 1605 Square Meter
1 Gonda Or 4 Kora = 80.25 Square Meter
1 Kora Or 3 Kranti = 20.06 Square Meter
1 Kranti Or 20 Til = 6.68 Square Meter
1 Til = .334 Square Meter

Formula of Acore and Shotok:

Length 10 Chain * Width 1 Chain = 10 Square Chain = 1 Acore
1 Chain = 66 Feet = 44 Hat = 22 Gaz/Yard = 20.12 Meter = 792 Inchi = 100 Link
1 Acore = 10 Square Chain
1 Acore = 100 Shotok
1 Acore = 43560 Square Feet
1 Acore = 19360 Square Hat
1 Acore = 4840 Borgo Gaz (Square Yard)
1 Acore = 4047 Square Meter
1 Acore = 1,00,000 Square Link
1 Acore = 3 Bigha 8 Chotak
1 Acore = 60.5 Kattah
1 Acore = 2 Kani 10 Gonda (Accoding to 40 Shotok Kani)
1 Acore = 432.6 Square Feet
1 Acore = 1 Gonda

Formula of Acore and Shotok as Square Link:

1 Chain = 100 Link
1 Square Chain = 100 * 1000 = 1,00,000 Square Link = 1 Acore
1 Acore Or 100 Shotok = 1,00,000 Square Link

Formula of Acore and Shotok as Square Feet:

1 Chain = 66 Feet
10 Square Chain = 66 * 66
Or 1 Acore Or 100 Shotok = 43569 Square Feet
1 Shotok = 435.6 Square Feet

Formula of Kani and Gonda as Acore and Shotok:

1 Shotok = 435.6 Square Feet
1 Kani Or 40 Shotok = 435.6 * 40 = 17424 Square Feet
1 Kani Or 20 Gonda = 17424 Square Feet
1 Gonda Or 4 Kora = 871.2 Square Feet
1 Kora Or 3 Kranti = 217.8 Square Feet
1 Kranti Or 20 Til = 72.6 Square Feet
1 Til = 3.63 Square Feet

Formula of Acore and Shotok as Borgo Hat:

1 Chain = 88 Hat
10 Square chain = 44 * 440 = 19360 Borgo Hat (1 Acre)
1 Acre Or 100 Shotok = 19360 Borgo Hat
1 Shotok = 193.6 Borgo Hat
40 Shotok Or Kani = 193.6 * 40 = 7744 Square Hat

Formula of Acore and Shotok as Borgo Gaz/Yard:

1 Chain = 22 Gaz/Yard
10 Square Chain Or 1 Acre = 220 * 22 = 4840 Borgo Gaz (Square Yard)
1 Acre Or 100 Shotok = 4840 Square Gaz
1 Shotok = 48.40 Barogo Gaz
1 Kani Or 40 Borgo Gaz/ Square Yard = 48.40 * 40 = 1936 Bargo Gaz (Square Yard)

Formula of Acore and Shotok as Square Meter:

1 Chain = 2012 Meter
10 Square Chain Or 1 Acre = 201.2 * 20.12 = 4047 Square Meter
1 Acre Or 100 Shotok = 4047 Square Meter
1 Shotok = 40.47 Square Meter

Formula of Bigha and Kattah:

1 Bigha = 80 Hat
1 Bigha = 80 * 80 6400 Square Hat
1 Bigha = 20 Kattah
1 Bigha = 33 Shotok
1 Bigha = 33000 Square Link
1 Bigha = 6400 Square Hat
11 Bigha = 1600 Borgo Gaz (Square Yard)
1 Bigha = 14400 Square Feet
1 Bigha = 1338 Square Meter
1 Bigha = 16 Gonda 2 Kora 2 Kranti

Formula of Bargohat and Bigha:

1 Bigha or 20 Kattah = 6400 Bargohat (Square Hat)
1 Kattah or 16 Chotak = 320 Bargohat (Square Hat)
1 Chotak = 320 Bargohat (Square Hat)

Formula of Bigha and Kattah:

4 Kak = 1 Kora
4 Kora = 1 Gonda
16 Chotak = 1 Kattah
20 Kattah = 1 Bigha
20 Gonda = 1 Chotak
6 Bigha = 1 Gonda

Formula of Bigha, Kattah and Hat:

1 Bigha or 20 Kattah = 80 Hat
1 Kattah or 16 Chotak = 4 Hat
1 Chotak or 20 Gonda = .25 Hat
1 Gonda or 4 Kora = .0125 Hat
1 Kora or 4 Kak = .0031 Hat
1 Kak = .0007 Hat

Formula of Bargolink/Square link, Bigha:

1 Bigha or 20 Kattah = 33000 Bargolink/Square link
1 Kattah or 16 Chotak = 1650 Bargolink/Square link
1 Chotak = 103.125 Bargolink/Square link

Formula of Bargofut/Square Feet and Bigha:

1 Bigha or 20 Kattah = 14,400 Bargofut/Square feet
1 Kattah or 16 Chotak = 720 Bargofut/Square feet
1 Chotak = 45 Bargofut/Square feet

Formula of Bargogaz/Square Yard and Bigha:

1 Bigha or 20 Kattah = 1600 Bargogaz/Square yard
1 Kattah or 16 Chotak = 80 Bargogaz/Square yard
1 Chotak = 5 Bargogaz/Square yard

Formula of Bargometer/Square meter and Bigha:

1 Bigha or 20 Kattah = 1338 Bargometer/Square meter
1 Kattah or 16 Chotak = 66.9 Bargometer/Square meter
1 Chotak = 4.18 Bargometer/Square meter

Formula of Ayer/ayor and Hector:

1 Hector = 10,000 Bargometer/Square meter
1 Hector = 11960 Bargogaz/Square yard
1 Hector = 1.47 Acre
1 Hector = 100 Ayer
1 Ayer = 28.9 Bigha (Approx)

Formula of Bargometer/square meter, Ayer and Hector:

1 Hector or 100 Ayer = 10,000 Bargometer/Square meter
1 Ayer = 100 Bargometer/Square meter

Formula of Shotok, Ayer and Hector:

147.105 Shotok = 1 Hector or 100 Ayer
247.105 Shotok = 1 Ayer

Formula of Bargohat, Ayer and Hector:

4789.528 Bargohat/Square Hat = 1 Hector
478.39528 Borgohat = 1 Ayer

Formula of Bargofut, Ayer and Hector:

107639 Bargofut/Square feet = 1 Hector or 100 Ayer
1076.39 Bargofut/Square feet = 1 Ayer

Formula of Square Yard/ Bargogaz, Ayer and Hector:

11959.882 Gaz/Yard = 1 Hector or 100 Ayer
119.59882 Gaz/Yard = 1 Ayer

Formula of Bigha, Kattah, Ayer and Hector:

7.47494 Bigha = 1 Hector or 100 Ayer
0.0747494 Bigha = 1 Ayer

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