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Grameen Bank
Govt to clip board wings
Proposal to amend ordinance goes to cabinet division today (August 2, 2012)
Roni Rahman
In corporate architecture, it is the board that decides and approves key issues including the selection of the CEO. Hijacking this power and giving it to the chairman will surely make the Grameen Bank more autocratic and devoid of the checks and accountabilities the board was designed to maintain. This seems to be a power grab scheme by the government.
Jumana Sarwar
This move must be challenged in the courts.
Manzoor Ashraf
I do not usually agree with the PM but 1 do agree with her that Grameen Bank and all other banks in Bangladesh are blood suckers since they charge very
high interest.
But this move by the government will not stop the culture of charging high interest, so I think the BB should look into this matter urgently.
Rocky Sinha
It is quite clear that the government won't step back from its stand. We can't deny that TICFA signing, Padma bridge project were affected by the activities of the government against the Grameen Bank.
ABangalee
By clipping the wings of Grameen Bank, the government will harm the economy of the country. It already has lost the support of many western countries. So they should think seriously before taking such a drastic decision. Md. Muslemur Rahman
This is the 1st step to take full control. What will be the next step to destroy the GB?
Translucent
It is not a suspicion! It's a fact that the government wants to take full control. Normally, board of directors employ the MD and s/he is responsible to the board. Chairman only chairs the board meetings. If company law is changed then it would affect other corporate entities in general. I foresee more chaos and confusion ahead that can only hurt GB and its poor subscribers!
Saleh Tanveer
There is now no doubt that the government wants to appoint political persons, thereby controlling the lives of 8.5 million borrowers and their families.
Md. Nahid Khan
Please do not hurt the poor people's organisation.
Johny
Why is the government playing hide and seek with Muhammad Yunus and Grameen Bank? What does the government want to prove? This is quite funny and ridiculous.
Mufazzal
I think the Grameen Bank interest rate should be lowered and the government should not try to take control over the bank.
Mayen Uddin Tazim, former Advisor, UNDP
We know absolute power corrupts absolutely. Unfortunately, the government is going to give absolute power to the Grameen Bank's chairman for reducing the power of the board of directors. This undemocratic decision will hurt the millions of borrowers and small investors who are linked to the Grameen Bank. With the intervention of the government, the bank will be far away from its original objectives. The government should appoint the right person to pave the way for realising its fundamental objectives.
Joseph Gomes
Why are we taking it in a negative way? The board is united as Dr Yunus is still there.
When he will not be there, the board members will start disagreeing with each other and it will be automatically divided about existing rules and procedures. So both the government and the GB should work together to make it a sustainable organisation.