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Monday, July 28, 2014

Saturday, August 4, 2012
Editorial

Editorial

Undermining Grameen Bank

Amending ordinance will result in politicisation

In a shocking and perverse move, the Cabinet set in motion steps to amend The Grameen Bank Ordinance 1993 that effectively empowers the Chairman to have overall control in the institution's operations and denudes the powers of the real owners, all 8.3 million of them, 95 per cent of whom are destitute rural women from having any real say. According to what has been reported in the press, the new powers of the Chairman become absolute in sidelining the real owners of the bank those who own 97 per cent of the share. Presently, the Board has 12 members where only 3 members including the Chairman represent the government. The other 9 women members are elected from the grassroots by the 8million plus women shareholders. Hence, the latest effort shows the government's intention to change the very nature of one of the most unique bank in the world which has successfully empowered destitute women and has become a model for emulation throughout the world. The Nobel Prize was jointly awarded to both the institution and the founder and the government's deliberate move to change the way it is run is in effect, a camouflaged attempt to turn it into a government institution and we all fear and share the concerns of the Foundation.

The latest move is the culmination of a well-orchestrated policy of harassment of Professor Yunus that has been reduced to a personal level where his personal integrity is being questioned. This witch hunt apparently knows no bounds. Questions are being raised whether the founder of this internationally acclaimed institution took financial benefits from the bank after he stayed on as Managing Director beyond the age limit of 60. One may then easily ask whether Yunus had any right to receive the Noble Prize that was awarded to him in 2006 when he was aged 66.

The mean-mindedness is reflected in the latest decision and goes to show the government's resolve to continue to hound and harass a man who has brought so much honour and dignity to Bangladesh. In the present world after Nelson Mandela, he is perhaps the most revered person in the world having been awarded almost all awards of any worth by countries throughout the globe. The government will be well advised to desist from taking steps leading to politicisation of the bank and denuding the banks real owners from exerting their legitimate authority. It should also stop degrading a man who has done so much to have brought so much recognition to the toiling masses of the land.

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The veteran AL politicians are thousand miles away from the people.Dr Yunus is a hero of young people.New generation are not too fool.

: msn

If one wins Nobel price, he is harassed and humiliated but if one resigns over graft allegation he becomes patriot. We are speechless.

: Hasan

Comments

  • Saleh Md Shahriar
    Saturday, August 4, 2012 12:41 AM GMT+06:00 (103 weeks ago)

    The government has to resolve the ongoing problem with the Grameen Bank through discussion and dialogue. Prime Mnister Sheikh Hasina could directly talk to Professor Dr Muhammad Yunus in order to settle the problem creatively.

  • Robin
    Saturday, August 4, 2012 01:08 AM GMT+06:00 (103 weeks ago)

    AL has walked into the path of its destruction. It has challenged the world. The next election will be a difficult one for it.

  • Syed Imtiaz Ali
    Saturday, August 4, 2012 01:10 AM GMT+06:00 (103 weeks ago)

    This is not the right treatment at all. It is very disappointing, debilitating and destructive measure to 'kill' an institution that had taken decades to build.

    The Grameen Bank needs a better deal...it has brought laurels for the nation.

  • M Ahmed, Bluffton, Ohio
    Saturday, August 4, 2012 02:31 AM GMT+06:00 (103 weeks ago)

    The BBC interview with the PM confirms that Bangladesh is doomed to remain a failed state for generations to come.

  • Rowshanul Khan
    Saturday, August 4, 2012 02:44 AM GMT+06:00 (103 weeks ago)

    I am afraid pretty soon Dr Yunus will be branded as anti-state element!

  • Saleh Tanveer
    Saturday, August 4, 2012 07:53 AM GMT+06:00 (103 weeks ago)

    If we forget about everything else, think of the clear messages this episode sends-- (1) If you have built something up with your private initiative, it can be trashed any time a government wants to (2) If you run afoul of the government there will be no fair resolution-- even the courts will be rigged against you with political appointees. If this does not send a negative message to foreign investors, what else will. Doesn't anyone in the government or the AL party with some influence realise the monumental folly of pursuing this course of action ?

  • Sheikh Monirul Islam, Opee
    Saturday, August 4, 2012 08:40 AM GMT+06:00 (103 weeks ago)

    Find out who started it all? One particular person within the advisory group of the PM misinformed deliberately that if Dr Yunus were not conferred the Nobel Prize at the time...it is our PM who would have received it; how misfortune is that to the country and look at what transpired after that? It was a lifetime advice to the PM, I suppose? What a shame really. I have a feeling that Dr Yunus's initiatives to establish a Cancer Hospital must have thrown some salt in old but fresh wound?

    Having said that, I have huge personal differences in opinion about Dr Yunus and his Grameen Bank; but these negative activities at national level are very much uncalled for. Awami League is losing its popularity very fast and that could be good news in the very essence of it in the core ultimately.

  • Jumana Sarwar
    Saturday, August 4, 2012 09:01 AM GMT+06:00 (103 weeks ago)

    We have so many times in the past seen the consequences of government intervention. The government is not for running business. It should always restrict itself as facilitator. This intervention in the GB is politically motivated and designed to loot grameen fund where personal vendetta is added as icing in the cake.

  • Dr Ahsan Habib, USA
    Saturday, August 4, 2012 10:57 AM GMT+06:00 (103 weeks ago)

    While the government talks about democracy and people's choice, many of its actions including the current one goes against democratic ideals in most blatant way.

  • upfront 244688
    Saturday, August 4, 2012 01:47 AM GMT+06:00 (103 weeks ago)

    Sorry to be denied response not for joining the chorus of patting blindly. We know that truth is the first casualty in war, but now it applies in the case of the Grameen Bank in Bangladesh.

  • RASHID NAHIAN
    Saturday, August 4, 2012 01:14 PM GMT+06:00 (103 weeks ago)

    This is totally a intentional decision which will render the Grameen Bank to destruction.


 

 


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