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Stop meddling with Grameen Bank

Eminent citizens urge govt to leave the microlender alone

Star Business Report
The government must let the Grameen Bank run as it is now and not go ahead with the proposed changes which would sideline the majority of the board members, a host of distinguished citizens said yesterday.
The amendments will not bring any good to the world's foremost antipovertyinstitution, they said.
The comments came at a protest meeting organised by Grameen Bank Rokkha o Durjon Protirodh Kendra, a platform to protect the bank from undue interference, at the city's National Press Club.
Language Movement Veteran Rafiqul Islam, who is also the acting president of the organisa-
tion, presided over the programme.
Prof Emajuddin Ahmed, a former vice-chancellor of Dhaka University, said Grameen Bank is a model organisation, a spirit and symbol of creativity.
"Bangladesh was born as a beggar and a western diplomat even branded it as a bottomless basket. Prof Yunus was the one who proved many wrong. He has proved that the country can offer a model to the world—a model that can inspire."
The educationist termed the government move to amend the ordinance
illegal and undemocratic as it deprives the owners who own 97 percent of the bank of their rights.
"What is the government trying to do so -- andforwhom?”
He said the bank should be left alone in the current shape: "No alternative should be acceptable. ”
Ahmed further said that thanks to the Grameen Bank women empowerment has taken place in Bangladesh — and not because of any government plan or research.
"There is still time and the government should use it," he said.
The professor added that corruption has not been able to touch Grameen Bank yet, when it is rife in every other organisation in the country.
Public health activist Dr Zafrullah Chowdhury said emergency ordinance is normally enforced when something urgent occurs.
"But the government has promulgated the amendments at a time when the next parliamentary session is due to begin on September 4."
"It is an autocratic decision," Chowdhury said, adding that the government should rather deal with the loan scam at Sonali Bank with urgency.
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Chowdhury said power should be given back to the Grameen Bank board members so that they can take decisions on their own. "They will pick whoever they want. Why are we interfering?"
Rashed Ahmed Chowdhury, a former ambassador, said each country organises programmes to celebrate the works of Nobel laureates.
"But here, we are hosting this event to protect Grameen Bank and Prof Yunus. This can only happen in Bangladesh.”
He, too, termed the government move to amend the ordinance undemocratic.
The former diplomat urged the government to at least maintain status quo at Grameen Bank.
"I hope good senses will prevail and the government takes heed of the people's opinion."
Dr Tajmeri SA Islam, a professor of chemistry at Dhaka University, said the government is plotting to destroy the Grameen Bank. "It was functioning perfectly. There was no need for the amendment. It should be allowed to run as it was."
Poet Abdul Hye Sikder said the story of Grameen Bank and its founder Prof Yunus deserve to be taught in schools and colleges for what they have achieved.
"Rather, the government and a section of intellectuals are trying to destroy the bank and tarnish the image of ProfYunus."
He said the government could have leveraged the worldwide acclaim ProfYunus enjoys to bring more glory to the country.
"The future of Grameen Bank is bleak," he said.
Eight elected borrower-directors of Grameen Bank were also present at the programme.
Rozina Begum, a former director of the board, said as a woman the prime minister should be proud of the fact that Grameen Bank is run by nine women directors. "Instead, she is taking the wrong decisions. It is very unfortunate."
She went on to urge Sheikh Hasina to listen to the nine women directors.
"It will be helpful for you. It is hurting us that our rights are being curbed."
"We are leading a respected life because of Grameen Bank. Please do not snatch Grameen Bank from us. You have to be careful as you are being ill-advised," she said.
Tahsina Akhter, a director of Grameen Bank board, said: "We do not understand why the prime minister sees Grameen Bank and ProfYunus as enemies."
She said the nine elected women borrowers-directors and the three government-appointed members, including the chairman, are properly running the bank.
"The amendment has curbed our rights. We should be given back our power."
Tahsina said they know that Yunus will not always be able to run the bank.
"We will have to sustain it in his absence. But the government will not be able to protect it."
"The government insists that all is being done in a transparent manner. But nothing seems transparent. From the loan scam at Sonali Bank, we have already got an idea what could happen to Grameen Bank if the government takes control of it."
Md Delwar Hossain, secretary general of Bangladesh-China Friendship Centre, said many have wrongfully branded ProfYunus as an agent of capitalism.
"But his microcredit and social business theories do not represent the capitalist world. Still, the capitalist world adores him because of his work and achievement. He is much adored in China as well."
Advocate Kazi Sadrul Huq Sudha, general secretary of the centre, said if necessary they would launch a countrywide movement in September to garner support for Grameen Bank to thwart the