Comments
Thirty-two US lawmakers have urged Bangladesh to preserve the independence of the Nobel Prize-winning Grameen Bank, saying changes proposed by a government-appointed commission would be “disastrous”.
The senators and House representatives, mostly Democrats, publicised their letter to Prime Minister Sheikh Hasina on Wednesday.
They lauded the micro-lender for helping hoist millions from poverty, and said commission recommendations if implemented would disenfranchise 5 million borrower-shareholders and dismiss borrowers on the board of directors, replacing them with government officials. It would also give the government a majority stake in the bank.
The commission was formed after the May 2011 ouster of Grameen’s founder, Muhammad Yunus, which drew international criticism. Yunus has frosty relations with Hasina.
The commission’s final report has not yet been released.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.