Cox's Bazar Investment Project
An investment recovery matter tied to a 2016 memorandum of understanding with the Bangladesh Administrative Service Association, where part of the principal has been returned but profit and the remaining principal are still outstanding.
Overview
A memorandum of understanding was signed on 16.06.2016 between the society and the Bangladesh Administrative Service Association.
Under that memorandum, BDT 3,25,00,000.00 was provided to the Bangladesh Administrative Service Association as investment.
After a return request dated 31.05.2023, only BDT 1,00,00,000.00 of the principal was returned on 30.07.2023, without any profit. The remaining principal together with profit still needs to be pursued under the memorandum.
Key Facts
Milestones
- •MOU signed on 16.06.2016.
- •Return request sent on 31.05.2023.
- •Partial principal repayment of BDT 1,00,00,000.00 received on 30.07.2023.
- •The investment file also records discussion of possible new housing projects through separate land-lease applications in Keraniganj and Baunia during 2024 and 2025.
Open Items
- •Send or follow up the demand for the remaining principal together with profit.
- •Keep this item out of visual promotional sections unless the business goal is to present the society's investment portfolio, not only development projects.
Status Note
This reads more like a financial and legal recovery item than a public project showcase.