No time to read? Just listen to the news!
TL;DR
- Moghbazar couple, Jamshed Rahman and Halima Begum, faced crippling debt due to high-interest loans taken during the Covid-19 pandemic to save their tailor shop
- The couple considered selling a kidney to pay off the Tk15 lakh debt, but their story gained attention after media reports, including one by The Business Standard
- An anonymous wealthy man paid off Tk11 lakh of the couple’s loans, while the Iqra Foundation provided Tk4 lakh in assistance and a Tk1 lakh interest-free loan
- The overwhelming support from the public and the generosity of the donors have given the couple a second chance at life, free from the burden of debt
Jamshed Rahman and Halima Begum, owners of a small tailor shop in Moghbazar, Dhaka, found themselves in a desperate situation after their business suffered during the Covid-19 pandemic. The couple had taken loans amounting to Tk15 lakh from NGOs and local loan sharks at extremely high interest rates, trapping them in a vicious cycle of debt.
As the pressure from lenders grew, Jamshed made a last-ditch effort to sell one of either his or his wife’s kidneys to clear the loans, even going as far as putting up a leaflet on a wall. However, following several media reports, including one by The Business Standard (TBS) on 12 October 2024, the couple’s plight caught the attention of the public.
A wealthy man, who wishes to remain anonymous, stepped forward and paid off Tk11 lakh of the couple’s loans. Additionally, the Iqra Foundation provided a one-time assistance of Tk4 lakh and a Tk1 lakh interest-free loan to the couple. Syed Imran, Trustee and Supreme Court lawyer at the Iqra Foundation, stated, “We contacted Jamshed after reading the report. He told us that an individual had paid off the loan amount taken from the NGO. But he had also taken Tk4.5 lakh as a loan from a local loan shark and had to pay Tk30,000-40,000 as interest per month. If someone provides him the amount as one-time assistance, it will help him a lot.”
Jamshed expressed his relief, saying, “A huge stone was lifted off my chest. Me and my family can now survive. We can now sleep in peace.” He added, “Just a month ago, my family and I would spend hours on Hatirjheel, to evade the NGO people. Now, I do not have any loans.”
Halima, Jamshed’s wife, expressed her gratitude to the journalists but also shared the deep scars left by the trauma of loans and high interest rates. “Even if I have to starve to death, I will never take a loan again,” she said.
The TBS article, which was published on 12 October 2024, took social media by storm, with many readers reaching out to the newspaper, asking how they could help the couple. The overwhelming support from the public and the generosity of the anonymous donor and the Iqra Foundation have given Jamshed and Halima a second chance at life, free from the burden of crippling debt.
This story highlights the devastating impact of high-interest loans on vulnerable individuals and the power of media and community support in helping those in need. It also underscores the importance of addressing the systemic issues that lead to such situations and the need for more accessible and affordable financial support for small businesses and low-income families.
Source: TBS news
