Thursday, February 05, 2015
Cooperative
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.
- 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.
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.
Labels: cooperative
# posted by Abu Rashid @ 9:40 AM 
