The brain behind JEI’s financial and Business Empire is Mir Kasem Ali. And he is one of the founders of the infamous Al Badr militia which was directly involved in the killing spree the country witnessed at the time of its birth in 1971. The brain behind JEI’s financial and Business Empire is Mir Kasem Ali. And he is one of the founders of the infamous Al Badr militia which was directly involved in the killing spree the country witnessed at the time of its birth in 1971.

Ali was jailed after Bangladesh became an independent country. He came out under a general amnesty declared by Sheikh Mujib-ur-Rahman in 1974

How Ali managed to spread the JeI net is not clear but according to Bangladesh Economic Association estimates, JeI foot print is visible in a wide spread area. It has its presence in the financial, transport, health and education sectors. JeI is also active in the sphere of non-governmental agencies (NGOs).

One estimate, that is not updated since 2005, shows that the JeI generates a net profit of Tk 1200 Crore annually.

While earnings from internal resources are said to be higher than income from its overseas assets, most of the leading institutions generating this fund are closely connected with organizations and individuals based in West Asia and Gulf.

The Islami Bank of Bangladesh which ranks among the top three banks of South Asia is floated from Saudi Arabia. It is associated with the Al Razee Bank of Saudi Arabia.

Islami Bank of Bangladesh was started in 1975 at the initiative of the then Saudi Ambassador in Dhaka, Fuad Abdullah Al Khatib and his wife. Apart from Saudi Arabia, UAE, Kuwait, Qatar are also share holders of this bank though about 60% shares are owned by Saudi individuals and institutions.

While the Islami Bank constitutes the backbone of JeI’s finances, it has 14 other banks in Bangladesh. It has recently entered into insurance business with Far Eastern Islamic Insurance Corporation. Its other arm in banking sector is Islamic Bank Foundation.

The Saudi based Islamic NGO, Rabeta-al-Alam-al-Islami is also one of the important sources of JeI funding. Other NGOs funding the JeI include Kuwait Relief Fund and Al Nahiyan Trust of UAE.   Their funding is channelised through
JeI controlled financial and charity institutions.  .

The JeI owns a number of publishing houses, newspapers and a think-tank, the Center for Strategic and Peace Studies (CSPS). Its daily, Naya Diganta, which was established in 2005 with a corpus of Tk 100 Crore, is currently one of the largest circulated dailies with a print run of around 125000 copies.

The Daily Sangram, JEI mouthpiece, is also one of the oldest dailies in Bangladesh.  The outfit publishes magazines for youth, like Youth Voice, booklets and Islamic literature. JeI backed publishers include Adhunik Prokashoni, and Shatabdi Prokashoni.
 
The JeI has made inroads into the education sector. The Islamic Training Centers which impart low level technical skills such as electronic repairs are car repairs are important instruments of its propaganda machine. The Darul Islam Coaching Centers have their footprint in all the 64-districts. Education in these centers lays stress on technical skills which provide employment to the youth.

Presence in the banking sector enables Bangladesh’s Jamaat-e-Islami to facilitate money laundering and channel unaudited funds to other Islamic groups, which are within its grip. Over time, the Darul Islams have emerged as key players in strengthening JEI’s network among the student community in a planned manner apart from generating huge finances for the party.

JEI and its fronts have sponsored some private universities. One of them is the very popular International Islamic University in Chittagong. It was established with financial assistance from the Saudi based International Islamic Relief Organisation (IIRO).