Investors paralyze Madarganj administrative offices to demand recovery of frozen cooperative deposits

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Protesters paralyzed administrative operations at the Madarganj Upazila Parishad in Jamalpur on Monday, launching an indefinite siege to demand the recovery of savings held by various local cooperative societies. Beginning at noon, demonstrators gathered at the main gate of the parishad, effectively halting all government services and office functions throughout the day.

Operating under the banner of the Movement Committee for the Recovery of Savings from Cooperative Societies, the protesters—comprising affected depositors and local residents—vowed to maintain their blockade until they receive formal guarantees regarding the return of their funds. Organizers stated that their decision to resume the protest follows years of failed petitions, demonstrations, and human chains that yielded no tangible results.

According to movement organizer Mafizur Rahman, the group has exhausted all avenues of peaceful protest, including previous efforts to block the entire Upazila. While the demonstrations were temporarily suspended due to regional political instability, participants declared that they are now prepared to adopt even more stringent measures if their demands remain unaddressed.

The scale of the financial crisis is significant. While official data from the district cooperative office suggests that approximately 730 crore taka was held in these societies, affected depositors contend the actual figure is far higher. They estimate that at least 1,500 crore taka is trapped within the local network of 23 societies, with a significant portion concentrated in major entities such as Al-Akaba, Shatadal, Swadesh, Nabadeep, Holy Target, and Rangdhanu. Thousands of victims across Madarganj, Islampur, Melandah, Sarishabari, and Jamalpur Sadar are reportedly waiting for their deposits to be returned.

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Chief movement organizer Shiblul Bari expressed deep frustration, noting that years of agitation have failed to secure any remedy for the thousands of families facing financial ruin.

In response to the standoff, Madarganj Upazila Executive Officer Suman Chowdhury acknowledged the severity of the situation. While noting his recent arrival in the district and limited familiarity with the intricacies of the cooperative disputes, he confirmed that authorities have initiated talks with the protest leaders to explore a viable resolution to the crisis.