A company blessed for its reported Indian links continued to dominate the country’s banking services sector despite the fall of the fascist Sheikh Hasina’s government which allowed it to grab almost all the services deals, ranging from ATM machines to online check clearing software.
The Technomedia Ltd., owned by Jashoda Jiban Debnath, provides cash through ATM Machines, CRM Machines, Note Sorting Machines, Shopping Digital POS Machines, Note Binding Machines, Banking Software, Check Books, Online Check Clearing Software and even security services to the banks across the country.
Jashoda, who took all the contracts by introducing himself as an Indian agent, fled to Canada as soon as Sheikh Hasina fled to India on August 5, 2024 amid a mass upsurge, but the company’s influence in the banking services sector remained unharmed.
Sources said Jashoda’s childhood was spent in hardship. At the age of six, he took over the responsibility of his family. He spent his childhood in tutoring. But he came to the capital Dhaka and started changing his life. At the beginning, the former MP of Awami League used to identify himself as a close person of deceased Suranjit Sen Gupta. Later, he regularly took pictures with former presidents, prime ministers and politicians of India to show his affinity with the country.
At one point, his business did not remain limited only to banking services. He has also been a director of a private bank and insurance company. He also became the vice president of FBCCI, the apex body of the business community. He was also the Director of a sugar mill and an eco resort.
Sources said on various pretexts, Jashoda used to take pictures with the then Prime Minister Sheikh Hasina and hwas free to visit Prime Minister’s office was free. He often blackmailed the banks by showing his picture with the Prime Minister and forced them to pay him high prices for the services.
He embezzled the bank’s money by colluding with the chairman and managing director of a bank, which was the most advanced in providing ATM booth services in the country, by showing the import of ATM machines at several times higher prices. Besides, there are allegations against him of evading large amounts of duty in the import of various service equipment of the bank. A few years ago, the customs intelligence department found a huge discrepancy in the import of ATM machines. Later, the agency found that the NBR did not have the import data of all the ATM machines in the banking sector of Bangladesh. When this information became known, Jashoda lobbied with the Prime Minister’s office and covered up the incident.
Jashoda is now in touch with his trusted people in the banking sector and continued his businesses and he is constantly lobbying for the continuation of the services he provides in the banking sector.
However, many banks are said to be struggling to run the services of the banking sector due to lack of his presence in the country. Several sources said the services it provides may be disrupted if it faces any major problems. They said the deals with Jashoda’s Techno Media need to be re-evaluated. Otherwise, banking services may be disrupted at any moment.
Jashoda became the leader of Faridpur District Awami League using the power of money and has also bagged the post of President of District Puja Udjakar Parishad. In the last one-sided national election, he stood up to become the Awami League candidate, but failed to get party nomination.