Grameen Bank lauds review committee report

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Grameen Bank (GB) appreciated the review committee report, submitted to the finance ministry, as the report does not contain any allegations of corruption and misuse of funds by GB, Professor Yunus or anyone working within the bank, said a press statement. "The Grameen family is gratified that the report confirms that there was no wrong-doing with regard to NORAD funds. We are also happy to note that the report recognises that GB's interest rate is the lowest among other microfinance organisations in Bangladesh," the statement said quoting GB General Manager Jannat-E-Quanine as saying. "We appreciate the committee's conclusion that GB and its sister organisations have had a positive impact on the socio-economic condition of Bangladesh," the GB general manager said. We would also like to draw the attention of all readers of the report that the report did not contain any suggestion that the review committee had been misled in its review process by GB and any of its officers, rather it recognised that GB officers had fully cooperated with the review process, Quanine said. The report does not contain anything to suggest that Professor Muhammad Yunus or his family members or any other person involved has profited personally, whether financially or in any other way. All of the mentioned irregularities are administrative issues which can be solved with the appropriate executive actions. Quanine said the Grameen family is glad to know that GB has been cleared of the unfounded allegations of improper lending activity and that the bank's core functions have been given a clean bill of health. Some people in the media world took advantage of the occasion of the publication of the report and published misleading stories of their own making, Quanine claimed, adding that they are deeply concerned about these statements published in several newspapers against GB and Professor Muhammad Yunus on the occasion of submission of the report. We clearly state that all transactions from GB to its borrowers and any other sister organisations were made within the legal framework of the country, Quanine asserted. Nothing unethical or immoral was done to personally benefit Professor Muhammad Yunus or any of the directors of Grameen's sister organizations, she said. GB and its sister companies are working to solve the myriad socio-economic challenges faced by our country, Quanine said, adding that to find solutions, Grameen has come up with effective and innovative means through which we may achieve the goal of poverty alleviation in Bangladesh. Everything that we have done in our decades of operation has taken place in good faith and transparency, the GB general manager said. She said, "We are fully committed to taking all possible measures to protect the greater interest of our 8.3 million borrowers, 25,000 employees and other stakeholders of GB, and appeal to all concerned to refrain from making any unfounded statements that will affect the independence and effectiveness of GB."