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Grammeen Bank will be under Bangladesh Bank supervision

GBThe Nobel prize winning Bank, Grameen Bank will be taken under Bangladesh Bank supervision. Finance minister Abul Maal Abdul Muhith said this after a cabinet meeting today. He said Grameen Bank Commission report will be available on 30th September, but he already knows what will be on the report. He is taking preparation in accordance to that upcoming report.

Grameen Bank and its founder Mohammad Yunus was awarded Nobel peace prize in 2006 for groundbreaking microcredit formula for poverty reduction.  After taking office the present government sacked Mohammad Yunus from the post of managing director. But Yunus and his followers managed to obtain injunction from court on govt. appointed search committee to appoint managing director.

At present this bank has no managing director. Its govt. appointed chairman has resigned, but he is still doing his duty as no chairman is appointed yet.

The finance minister said, the govt. has twenty five percent of share and it will remain the same.

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