Bangladesh’s economy is in a rapid nosedive, with over one million people becoming unemployed since August 5. Numerous commercial and industrial establishments are shutting down due to an acute liquidity crisis in the financial sector. This crisis hampers entrepreneurs from opening Letters of Credit (LCs) for importing essential raw materials and other items required for sustaining businesses. Meanwhile, dozens of “buying houses” that coordinated the procurement of ready-made garments (RMG) from local factories for large buyers-mostly in the United States, Britain, and EU nations – have closed their offices in Dhaka and other parts of the country. This closure is primarily driven by mob anarchy, rampant extortion, threats, intimidation, and a hostile environment that discourages foreign nationals, particularly Indians, from remaining in the country.

Economic analysts warn that Bangladesh is heading toward an alarming economic collapse. A significant segment of its 180 million population could face acute famine, while most of the 6.5 million workers in the country’s RMG sector – a key economic backbone – risk losing their jobs. International buyers are already shifting their orders to alternative sources due to the growing influence of extremist groups like Al-Qaeda, Islamic State, and Caliphate-mongering elements such as Hizb Ut Tahrir and Hefazat-e-Islam. Thousands of Quranic madrassas in Bangladesh, considered breeding grounds for jihadists, further exacerbate the issue. These institutions are heavily influenced by anti-Semitism, jihadism, and Hindu hatred, with Hefazat-e-Islam serving as the platform for madrassa teachers and students.

Given these deeply troubling scenarios, geopolitical analysts suggest that Bangladesh, once seen as a rising economic star in Asia, is on the verge of becoming another Libya, Iraq, or Pakistan. The rise of religious extremism and state-sponsored violence may make the country a target for terrorist attacks, potentially endangering foreign nationals and individuals.

Dangerous........

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