Investors of two local companies are passing days in uncertainty as they have not been getting any returns on their investments of around Tk80 crore for the last eight months in Jessore.
Ehsan Real Estate and Ehsan Multipurpose account for around 9000 and 1000 investors respectively who were lured into investing in the companies. They were promised that their investments were ‘Islam friendly’; instead of interest, they would be getting dividends from the companies, based on their investments.
They said they were given Tk1400-1600 dividend per lakh for the first few months and then for the next eight months they have not been being given any dividends.
They informed this to journalists at Jessore National Press Club on Thursday.
Investor Mofizul Islam, who lives at Sadar upazila’s Barandipara area, was one of those who were present there. He revealed how he had invested Tk16 lakh.
He said his father was one day told by Kodomtola Mosque Imam Lokman Hossain that the country’s muftis, imams and muezzins had set up a company as per Islamic Shariah and Board.
“Upon my father’s advice, I then withdrew all my money from the bank and invested it in Ehsan Real Estate. I got only Tk28,800 as dividend.” he said, adding that he had not got any dividend for around 8 months.
The Dhaka Tribune correspondent tried to contact Ehsan Real Estate Managing Directors Rabiul Islam, Mohammad Zonaed, Panel Managing Director Ataullah and Vice President Yunus Ahmed, but he found their phones switched off.
Ehsan Real Estate Jessore Manager Saidul Islam Bipul however was contacted and he said they were failing to give any dividends because the companies have been beset by financial and internal problems.
Neither company has any capital in hand because all the money was invested in business. Now investors cannot get either their dividend or their investment.
Asked why officials had kept their phones switched off, he said they were being repeatedly phoned by investors seeking return on their investment. “Frankly, even we the seven staff have not gotten any salary during Eid.”
Talking to the Dhaka Tribune, Assistant Superintendent of Police Reshma Sharmin said: “No case has yet been filed about this and so we cannot take any action against those who are alleged to have been cheated investors of their money.”
Deputy Commissioner Humayun Kabir said: “I do not know anything about this. However, I will see to this matter and legal action will be taken if anybody complains to me about this in writing.”