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Move to amend GB ordinance undemocratic

Ex-adviser tells seminar

Staff Correspondent
The government's move to amend the Grameen Bank ordinance is “undemocratic” as it does not represent the opinions of the bank's majority shareholders, former adviser to a caretaker government Dr Akbar Ali Khan said yesterday.
“Ninety-seven percent stake in the Grameen Bank is owned by poor women. So the government should consider their opinions,” he told a seminar at the Jatiya Press Club.
His comment came nearly a week after the cabinet approved a plan to amend the Grameen Bank Ordinance, 1983 to give more power to its chairman to pick the bank's managing director.
The post fell vacant after Nobel laureate Prof Muhammad Yunus was forced to step down as its chief executive by the Bangladesh Bank in May last year.
Akbar said there was a contradiction between government documents and the statements of public officials. "The sixth five-year plan says that microcredit played an important role in the socio-economic development of the country. But government officials claim that it had no role in the development of the country."
During her tenure as prime minister between 1996 and
2001, Sheikh Hasina also praised the role of microcredit at the global level, he noted.
The former cabinet secretary expressed bafflement over why the government was so much concerned about microcredit now.
Ue said Grameen Bank (GB) was not in a bad shape in terms of economics. He thought the interest rates charged by the microlender were much lower than those of the state-run banks.
"For example, although data from Bangladesh Krishi Bank shows that it charges only 10 percent interest rates, if we calculate the money and lime people need to spend to get the loans, then we will find that Grameen Bank's interest rates are much lower," he mentioned.
Expressing concern over the government's move, borrower members of the bank said the proposed amendment would enable the government-appointed chairman to choose the managing director of the bank.
"We will decide the appointment of the managing director for our bank, as we own nearly 97 percent shares of the bank,” said Rozina Begum, a borrower member oftheGB.
She urged the government lo refrain from amending the ordinance as it would deprive its real owners of their role in managing the institution.
“I am deeply shocked and saddened by the government's initiative to amend the ordinance," said Asif Nazrul, a professor of law al Dhaka University.
I Ie called on the president not to sign the amendment for the betterment of poor women and overall development of the country.
Salma Khan, a former ambassador and women rights activist, said the GB had played an important role in women’s empowerment. It had especially given them a voice in decision-making, she noted.
She warned that if the government controlled the bank, it would disrupt women's empowerment and make the future of its 83 lakh members uncertain.
The national executive committee of "Grameen Bank Rokkha o Durjon Protirodh Kendra” hosted the seminar, chaired by its president M Munir-Uz-Zaman.
Meanwhile, three noted educationists yesterday urged the government lo change its attitude and action regarding the Grameen Bank for the sake of the country and especially lor its 83 lakh members.
In a joint statement, Prof Emeritus Dr A1 amgir Mohammad Sirajuddin, Prof Mohammad Fazle Hossain and Prof M u h a m m a d Sikander Khan said, "We are worried and sorry about the circumstances surrounding the Grameen Bank and its founder Dr Muhammad Yunus."
Both Prof Sirajuddin and Prof I lossain are former vice-chancellors of Chittagong University, while Prof Sikander is a former project director of the proposed Rangamati University.
"Through microcredit and other services, the Grameen Bank is the source of poverty alleviation and economic, social and political empowerment of a large number of women in the country. Encouraged by its activities, similar organisations have been set up in many other countries around the world," read the statement.
They said the GB is a specialised institution and its members are the owners.
The government is curbing the legal rights of the 83 lakh poor women owners of the bank, which is not acceptable.
The government, complained the trio, is trying to turn the bank into a public organisation and politicise it by bringing in changes to the
Grameen Bank Ordinance, 1983.
The nation demands that the government not change the ordinance in the interest of continuing the independence and success of the GB. They requested the government to protect the rights of the poor and slop the move to turn the bank into a public institution.